NDC orders jackups from Lamprell

Construction group Lamprell has won a $317-million contract for two new jackup rigs from National Drilling Co., Abu Dhabi.

Offshore staff

SHARJAH, UAE -- Construction group Lamprell has won a $317-million contract for two new jackup rigs from National Drilling Co., Abu Dhabi. Additional optional equipment orders are worth an estimated $12.6 million for each rig.

Both will be built to the LeTourneau Super 116E (Enhanced) Class design. The rigs will have triangular hulls and three 310-ft (94-m) truss-type legs, each incorporating an electro-mechanical rack and pinion elevating system, allowing drilling in up to 200 ft (61 m) of water with a rated drilling depth of 30,000 ft (9,144 m).

Work on the first rig will start Aug. 1, with delivery scheduled for 2Q 2012.

NDC has options for Lamprell to build two further jackups, each valued at $158.5 million, which can be exercised over a 12-month period from Aug. 1, 2010. Each option again includes optional equipment orders worth $12.6 million.

In a related development, Lamprell and Riginvest have agreed that their contract concerning construction of a further LeTourneau Super 116E jackup will terminate once Lamprell and NDC have formalized their commitment. That rig instead will be built for NDC.

As part of the termination agreement, Riginvest will receive a portion of the contract advance it has already paid to Lamprell.



07/28/2010

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