Lamprell Wins $227 Million Jackup Newbuild Contract

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May 1, 2012

Lamprell announced today the receipt of a USD $227 million contract award from an international drilling contractor for the construction of a jackup drilling rig.

The contract is for the construction and delivery of a completely outfitted and equipped, LeTourneau designed, self-elevating Mobile Offshore Drilling Platform of a Super 116E (Enhanced) Class design.

Nigel McCue, Chief Executive Officer, Lamprell commented:

“It is with great pleasure that we announce today a contract award from a highly valued customer for the construction of a Super 116E jackup rig. This further evidences the sustained demand for these rigs and the confidence in Lamprell’s ability to deliver a quality product with a strong commitment to customer service.”

The rig is designed to operate in water depths of up to 350 feet and will have a rated drilling depth of 30,000 feet. Fabrication will take place at Lamprell’s Hamriyah yard. The project is planned to be completed in Q4 2014.


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