UAE-based offshore engineering and construction services provider Lamprell is in the frame for upgrade work on three jack-up drilling rigs ahead of their move to the Gulf region.
Lamprell revealed on Tuesday that it was engaged with an undisclosed, international rig operator for “major upgrade work” on three jack-up rigs in readiness for their deployment in the Gulf region.
Based on the UEA player’s announcement, the first of the rigs will arrive at its Hamriyah quayside yard this month, and work is expected to start right away, while the second and third rigs will follow later.
The firm did not provide any exact financial details about this contract. However, the company did inform that the scope of work involved in this deal represents a small contract for the business. Lamprell defines a small contract as one with a value below $50 million.
Christopher McDonald , CEO of Lamprell, remarked: “Our rig refurbishment activities are a mainstay for our Oil & Gas business unit; having an excellent reputation for delivery. Over the last twelve months, we have seen increasing demand in this business segment evidenced through the awards of drilling contracts by regional operators. The entire team looks forward to delivering the upgrades safely and on time for our client.”
As a reminder, after Lamprell reorganised into three new business units – Renewables, Digital, and Oil & Gas – in January 2021 as part of its efforts to focus on energy transition, the company disclosed in March 2022 that it was engaged in talks for the sale of a stake in its oil & gas business . However, the UAE contractor did not give any further details about the offer.
Lamprell’s Oil & Gas business includes its traditional activities in rig fabrication, rig refurbishment, onshore EPC and other services. In addition, it also entails planned expansion into Offshore EPCI under the Saudi Aramco LTA.