Lamprell progressing rig, wind farm construction projects

Oct. 29, 2021
Two new IMI drilling rigs for Saudi Aramco are in the peak fabrication phase, Lamprell reported in its latest results statement.

Offshore staff

SHARJAH, UAE – Two new IMI drilling rigs for Saudi Aramco are in the peak fabrication phase, Lamprell reported in its latest results statement.

Both were subcontracted to the company due to the impact of COVID-19 on the new IMI yard in Saudi Arabia.

Critical equipment packages are currently being installed, but the cost impact of the delays caused by COVID-19 means that the end margin on these projects will likely be minimal, and sensitive to any future cost increases.

At the IMI yard works on site have now resumed and the first of the four zones should begin commissioning in early 2022.

Earlier this year Aramco awarded Lamprell two mid-size EPCI projects under the Long-Term Agreement program. Steel cutting has started for the first project and initial engineering and procurement has finished for the second.

Lamprell continues to secure a steady flow of rig refurbishment projects from repeat and new clients with a recent increase in scopes, with more work expected following the oil price recovery and a growing offshore rig count in the Middle East region.

As for offshore wind, the company is progressing work on jackets for the Seagreen project in the UK North Sea, helped by investments that have allowed it to almost double the number of jackets in assembly at any one time.

Recently the company added a lifting frame that helps reduce costs during project execution.

10/29/2021

Courtesy Altera Infrastructure Holdings
Courtesy SBM Offshore's "Full-year Results 2023" presentation