Oil rig maker Lamprell PLC said Thursday it had received a letter of intent from its Saudi Arabian joint venture to supply two jack-up drilling rigs to a client.
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The rigs will be built collaboratively between Lamprell and IMI, a Saudi Arabian joint venture in which Lamprell is a partner.
Once these have been determined a final contract will be signed and Lamprell will make a further announcement.
“I am very pleased to receive this letter of intent from IMI for the first two jackup rigs to be built by IMI and Lamprell,” Lamprell Chief Executive Officer Christopher McDonald said. “This is a significant step forward for the Saudi maritime yard.”
“Following Lamprell‘s recent announcement regarding its ascension to Saudi Aramco’s long term agreement programme, this is a further demonstration of the importance of the Saudi Arabian market to our strategic aspirations,” McDonald added. “The developing relationship between IMI and Lamprell will continue to be enhanced as we construct these rigs and we are excited by the opportunity to collaborate with them on such an innovative and important project.”
Shares in Lamprell were 1.7% higher at 61.50 pence on Thursday.
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