SHARJAH, UAE – Rig refurbishment activity remains healthy, according to fabricator Lamprell.
In its latest results overview, the company revealed it had completed nine refurbishment projects and received eight rigs in its yards for various new works this year.
It has also secured three new contracts with the rigs due to arrive in its yards during the second half of the year.
Currently Lamprell is stacking 12 rigs in Sharjah and Hamriyah, most of them warm stacked, and the scope of work requested is gradually increasing.
The new International Maritime Industries (IMI) yard in Saudi Arabia, in which Lamprell is a 20% partner, is now into the construction phase. All four of the fabrication zones look set to be commissioned for operation in late 2022.
Last December the company received a letter of intent for the subcontract of two newbuild jackups from IMI as part of an agreement with the latter’s client ARO Drilling.
However, due to the slow pace of recovery for drilling day rates, IMI continues to review technical and commercial requirements and the timing for an award for the first two rigs.
Since Lamprell was added to Saudi Aramco’s long-term agreement program in November 2018, it has submitted multiple bids.
To date there has been no news on timing of awards, but the company expects developments from early 2020 onwards.