SEPTEMBER 13, 2013 — UAR-based Lamprell (LSE: LAM),has been awarded a major rig refurbishment contract by Ajman, Dubai, based jack-up accommodation units Millennium Offshore Services group (MOS). The contract covers the conversion of the MOS Frontier, a three-legged Type MLT116C jack-up rig, and is valued at approximately $64 million.
Conversion will be carried out at Lamprell's Sharjah facility (left)
MOS announced last month that it had purchase the rig from an offshore drilling company for $25 million.
The rig is a multi-purpose jack-up unit capable of operating in water depths of 300 feet and it will be converted into an accommodation support vessel for the purpose of accommodating 290 personnel. The work on this project will be executed at the Lamprells's Sharjah shipyard.
James Moffat, Chief Executive Officer, Lamprell, said: "Lamprell has a well-established track record for undertaking major rig refurbishment projects and so it is pleasing that one of our existing clients has awarded us a new contract for one of the largest refurbishment and conversion projects in our history. Rig refurbishment remains an area of traditional strength for the group and it is encouraging to have been selected by MOS for this high profile project."