Lamprell plc Ascension to Saudi Aramco's Offshore LTA Programme (4503I)
26 November 2018 - 6:35PM
UK Regulatory
TIDMLAM
RNS Number : 4503I
Lamprell plc
26 November 2018
26 November 2018
LAMPRELL PLC
("Lamprell" and with its subsidiaries the "Group")
ASCENSION TO SAUDI ARAMCO'S OFFSHORE LTA PROGRAMME
Lamprell with its partners has been selected as a contractor on
Saudi Aramco's Long Term Agreement for Offshore Facilities (LTA)
programme.
The LTA is part of an ambitious offshore investment programme
and covers engineering, procurement, construction, transportation
and installation (EPCI) contracts to support Saudi Aramco's
Offshore Maintain Potential Program, Oil & Gas Program, and
other offshore work. Within the scope of the LTA, investments could
exceed USD 3 billion per annum with an initial programme duration
of 6 years, with options by Saudi Aramco to extend for a further 3
plus 3 years. Selected LTA contractors have the right to bid for
tenders put out by Saudi Aramco without further technical
prequalification or preselection, considerably shortening the lead
time through to award.
Lamprell submitted its bid in a consortium with Boskalis, a
leading global marine contractor. Lamprell will focus on the
engineering, procurement and construction of offshore structures,
such as topsides and jackets. Boskalis will be responsible for the
transport and installation of these structures, in addition to
specialist subsea activities, including survey as well as pipeline
and cable installation. This agreement is a very important
milestone for Lamprell.
Christopher McDonald, CEO, Lamprell, said:
"I am delighted to be able to announce that Lamprell has been
chosen by Saudi Aramco to be part of the LTA programme. This is one
of the most sought-after and selective processes in the industry
and the award advances our strategic aspirations with respect to
both Saudi Arabia and the EPCI sector, as well as cementing our
relationship with an industry partner in Boskalis. Saudi Arabia is
the cornerstone of Lamprell's growth strategy as is evidenced by
our investment in the IMI: and we are extremely grateful to have
been given this opportunity to participate in the LTA."
- Ends -
Enquiries:
Lamprell plc
Maria Babkina, Investor Relations +44 (0) 7852 618 046
Tulchan Communications, London +44 (0) 207 353 4200
Martin Robinson
Martin Pengelley
Notes to editors
Lamprell PLC, based in the United Arab Emirates ("UAE") and with
over 40 years' experience, is a leading provider of fabrication,
engineering and contracting services to the offshore and onshore
oil & gas and renewable energy industries. The Group has
established leading market positions in the fabrication of
shallow-water drilling jackup rigs, liftboats, land rigs, and rig
refurbishment projects, and it has an international reputation for
building complex offshore and onshore process modules and fixed
platforms.
Lamprell employs more than 3,000 people across multiple
facilities, with its primary facilities located in Hamriyah,
Sharjah and Jebel Ali, all of which are in the UAE. In addition,
the Group has facilities in Saudi Arabia (through a joint venture
agreement). Combined, the Group's facilities cover approximately
812,000 m2 with 1.6 km of quayside.
Lamprell is listed on the London Stock Exchange (symbol
"LAM").
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END
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