Lamprell, a specialist engineering firm serving the oil and gas industry, has been awarded a new contract from Jindal Pipes, based in Singapore.
The contract is for the construction and delivery of a completely outfitted and equipped self-elevating Mobile Offshore Drilling Platform.
The rig is designed to operate in water depths of up to 350 feet and will have a rated drilling depth of 30,000 feet. Lamprell will build the jackup rig in its yard in Hamriyah.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Chief executive officer Nigel McCue said: "This order further underlines the strength of the market for jackup rigs, and Lamprell's strong positioning within this market."
The share price rose 3.46% to 248.4p by 09:01.
NR
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
