Lamprell scores engineering deal with IMI

UAE-based offshore oil rig builder Lamprell has been awarded a medium-sized contract by International Maritime Industries (IMI) for engineering design services.

Lamprell said on Monday that it would immediately start and extend over the next three years. According to the company, the work will be undertaken in two parts – an initial phase incorporating full detailed design engineering, followed by the production design phase.

This work forms an integral part of IMI’s 2030 new build rig programme, supporting the strategy for establishing the company as a fully autonomous in-country yard facility servicing clients in the maritime sector including maintenance, repair, overhaul, and build new rigs and ships.

It is worth noting that Lamprell defines a medium-sized contract as a deal worth between $6 million and $50 million.

Christopher McDonald, CEO of Lamprell, said: “Working closely with our IMI partners, we are delighted to be starting this key piece of engineering work. It complements and builds on the two jack-up rigs we were awarded at the beginning of the year.

“Also, it further expands our remit for being able to welcome Saudi nationals into our facilities as part of supporting IMI’s local capacity building. When completed, the maritime yard in Saudi Arabia will become a major contributor to the local economy and we are proud to be associated with such a strategic vision“.

The deal for building two jack-up rigs, mentioned by Lamprell’s CEO, was awarded back in January 2020. To remind, Lamprell won a formal award from IMI for the fabrication and delivery of two rigs for ARO Drilling.

The formal award followed a letter of intent from IMI received on December 27, 2018. According to the contract, the two rigs will be built collaboratively between IMI and Lamprell, with Lamprell’s share of project value amounting to around $350 million.

The delivery of the first rig is expected in the first quarter of 2022 and the second rig will be delivered in the second quarter of 2022.