Lamprell Delivers LeTourneau Super 116E Jack-Up to Abu Dhabi NDC

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August 24, 2012

Lamprell (ticker: LAM), a UAE-based provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewables industry, announced today the completion of construction of the jackup rig Makasib and its delivery to Abu Dhabi’s National Drilling Company (NDC).

Completion of the jackup rig, within budget, was marked at a ceremony at Lamprell’s Hamriyah facility in the UAE on 12 July, and the rig departed the facility on 23 August, going directly to her initial drilling location.

The Makasib, the first of a total of 6 rigs being built for NDC by Lamprell, has a contract value of US$ 168 million at completion. The contract was announced in July 2010.

The rig, which weighs approximately 9,400 tonnes, is a LeTourneau Super 116E (enhanced), self-elevating, 310ft legs design, with a fully automatic drillfloor with vertical piperacker. The rig will now travel to the Zakum Field, Arabian Gulf.

Commenting on the delivery Nigel McCue, Chief Executive Officer, Lamprell, said:

“This is a significant milestone for the Company, as this is the first new build jackup we have completed for NDC, now our biggest customer in the new build jackup segment.  We are pleased to be delivering this rig on schedule and within budget to such an important and valued customer and to demonstrate our project execution capability.”

Abdalla Saeed Al Suwaidi, Chief Executive Officer, NDC, commented:

“Our relationship with Lamprell has been one of true partnership starting with the work that the Company has done for us on rig upgrades. Today, we are delighted to be marking the delivery of the first new build jackup rig built by the Group. We are confident that Lamprell will continue to support us in achieving our vision of becoming a regional symbol of excellence in drilling, work over and associated well services.”

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