Oil and gas engineering firm Lamprell has been awarded a new contract award from Dev Drilling, a company within the Jindal Group, based in Singapore, for the construction and delivery of a completely outfitted and equipped, self-elevating mobile offshore drilling platform.
Under the agreement, Jindal has an option for Lamprell to build a further jackup rig, exercisable during a period of six months from the effective date of the contract.
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"We have developed an excellent working relationship with Jindal and we look forward to delivering successfully on this crucial project."
The construction phase of the project is expected to take approximately 18 months.
The rig is the second that Lamprell has agreed to construct for Jindal.
The share price leapt 8.52% to 146.50p by 09:40.
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