Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore energy industry, announces the completion of
construction on a further jackup drilling rig, and its delivery to Abu Dhabi’s National Drilling Company (NDC), on time and on budget.

The contract for this latest NDC rig was signed in October 2011 and this is the fourth rig in a series of six identical rigs being built and delivered by Lamprell to NDC. All six rigs have been or will be designed according to the Cameron LeTourneau Super
116E (Enhanced) Class design. The new rig has been delivered to the client following the delivery of the third drilling unit, “Qarnin”, in February of this year. The remaining two rigs for NDC are all proceeding on schedule and will be delivered as planned in late 2014/early 2015.

This new rig for NDC is the ninth Super 116E jackup drilling unit that Lamprell has completed for various clients during the last six years. The jackup rig will be officially named, and completion will be marked, at a ceremony at Lamprell’s Hamriyah facility in the UAE towards the end of May, before departing for operations at its drilling location in Abu Dhabi.


NDC Chief Executive Officer Mr. Abdalla Saeed Al Suwaidi commented:

“NDC is committed to continuous improvement and sustainable growth. Significant achievements have been made during the expansion of our company fleet and the development and quality of our services. These improvements were made to meet the increased demand for drilling services and to strengthen our capability to perform all types of drilling operations with complete efficiency and competency.

This new rig, similar to the previous three rigs already delivered by Lamprell, is a significant addition to NDC’s offshore rig fleet and will support our efforts in meeting our clients’ needs and expectations, now and in the future, by providing superior, competitive and quality services.

I would like to express my appreciation to Lamprell for their efforts and commitment to HSE and Quality.”

Commenting on the delivery, Jim Moffat, Chief Executive Officer, Lamprell, said:

“Lamprell continues to execute well in its core markets, building on the successes in 2013, and in the key new build jackup rig market.

I am pleased to announce the completion and delivery of this fourth jack-up rig to our largest client, NDC. This is the third major project completion of 2014 where we have delivered on time and within budget, and we look forward to working closely with NDC management and the project team to ensure timely delivery of the remaining two rigs.”

About Lamprell

Lamprell, based in the United Arab Emirates (UAE) and with operations throughout the region, has played a prominent role in the development of the energy industry in the Middle East for over 35 years and is the regional market leader in the rig construction business. Lamprell is a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries and since its IPO in 2006 it has established leading market positions in the construction of shallow-water drilling jackup rigs, liftboats, land rigs and rig refurbishment, as well as an international reputation for complex process modules and topsides.