Lamprell plc New Contract Award
RNS Number : 1653Q
24 February 2021
24 February 2021
("Lamprell" and with its subsidiaries the "Group")
NEW CONTRACT AWARD
Lamprell appointed on one of Saudi Aramco's LTA projects
Lamprell is pleased to announce that it has been awarded an
Engineering, Procurement, Construction and Installation (EPCI)
contract (the "Contract") by Saudi Aramco as part of their
Long-Term Agreement Programme (LTA) with Lamprell.
Works on this large* Contract consists of two offshore
production deck modules and associated pipeline and subsea cables
in Saudi Aramco's Marjan Field.
The Marjan Field is located in the Arabian Gulf, off Saudi
Arabia's East Coast and is one of the largest oil and gas fields in
Christopher McDonald, CEO, Lamprell, said:
"We are delighted to have received our first LTA contract award
since joining the programme in 2018. Our team has been working
closely with Saudi Aramco over the past few months and we look
forward to strengthening our partnership through this project.
Marjan is a strategic asset of global significance and we are
honoured to play a role in its development. The award reinforces
our commitment to our strategy and we look forward to working on
further opportunities in the region."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
- Ends -
Maria Babkina, Investor Relations +44 (0) 7852 618 046
Tulchan Communications, London +44 (0) 207 353 4200
Notes to editors
Lamprell, based in the United Arab Emirates ("UAE") and with
over 40 years' experience, is a leading provider of fabrication,
engineering and contracting services to the offshore and onshore
oil & gas and renewable energy industries. The Group has
established leading market positions in the fabrication of
shallow-water drilling jackup rigs, liftboats, land rigs, and rig
refurbishment projects, and it also has an international reputation
for building complex offshore and onshore process modules and fixed
Lamprell employs more than 4,000 people across multiple
facilities, with its primary facilities located in Hamriyah, in the
UAE. Combined, the Group's facilities cover approximately 800,000m2
with over 1.5 km of quayside. In addition, the Group has facilities
in Saudi Arabia (through a joint venture agreement).
Lamprell is listed on the London Stock Exchange (symbol
*Lamprell defines a "large contract" as between USD 51 and USD
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(END) Dow Jones Newswires
February 24, 2021 03:01 ET (08:01 GMT)