Lamprell to build two jack-up rigs for Saudi market

Lamprell has received a letter of intent (LOI) from International Maritime Industries Company (IMI), the Saudi maritime joint venture in which Lamprell is a partner, confirming the intent to award Lamprell the contract for the construction and delivery of two jack-up drilling units.

The rigs will be built collaboratively between the IMI and Lamprell for delivery to IMI’s end client, Lamprell said on Thursday.

There are ongoing discussions between the end client, IMI, and Lamprell to conclude the specifications and contract terms which, once determined, will result in final contract signing for the rigs.

The rigs will be built according to the Schedule G requirements for operations in Saudi Arabian waters. Lamprell will undertake most of the fabrication work for both jack-up rigs at its Hamriyah yard, in the United Arab Emirates while maximizing work in Saudi Arabia to approximately 15% of the scope of work.

Christopher McDonald, CEO, Lamprell, said: “I am very pleased to receive this letter of intent from IMI for the first two jack-up rigs to be built by IMI and Lamprell. This is a significant step forward for the Saudi maritime yard.

“Following Lamprell’s recent announcement regarding its ascension to Saudi Aramco’s long-term agreement program, this is a further demonstration of the importance of the Saudi Arabian market to our strategic aspirations. The developing relationship between IMI and Lamprell will continue to be enhanced as we construct these rigs and we are excited by the opportunity to collaborate with them on such an innovative and important project.”