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Lamprell, a leading provider of specialist engineering services to the international oil & gas industry, is pleased to announce that it has received contract awards from three of its key customers, which in aggregate total US$ 52 million.

Lamprell is pleased to announce that it has been awarded the following contracts: Saipem Energy Services S.p.A (“Saipem”) has awarded Lamprell a US$ 18.1 million contract for the construction of six process modules, pipe-rack sections and interconnecting pipe spools for the Aquila Phase 2 Floating Production, Storage and Offloading (“FPSO”) Project. The modules will be constructed at the Jebel Ali facility and are scheduled to be completed in November 2015.

Noble International Limited has awarded Lamprell a US$ 20.4 million award for the fabrication and installation of three 309 feet legs for the David Tinsley jackup drilling unit, in addition to general refurbishment and upgrade works already underway to repair the hull, leg wells and jacking houses. The work has commenced at the Hamriyah facility and is scheduled to be completed by the end of July 2015.

Transocean Investments S.a.r.l. (“Transocean”) has awarded Lamprell the contract for the upgrade and refurbishment of the Key Manhattan jackup drilling unit. This project will be undertaken in Croatia by Lamprell at the Nauta Lamjana shipyard. The initial contract value is US$ 13.4 million and the work scope includes extensive steel renewals and associated painting works, structural repairs to the cantilever and derrick, and the replacement of hull piping systems. The work will commence during September 2013 and is scheduled for completion in December 2013.

Commenting on the contract awards Nigel McCue, Chief Executive Officer, Lamprell said:

“We are delighted to be announcing these contract awards which illustrate the continuing demand for our services. The contract with Saipem is our first FPSO award since July 2008 and reinforces the confidence we have in the long-term viability of the offshore construction market both for fixed and floating structures.

We are also pleased to announce our rig refurbishment contract wins with two long established clients. They endorse our strong reputation for quality, safety and service and for delivering projects on schedule and on budget. We are particularly encouraged to be involved in the offsite project with Transocean, which reflects a developing area of business for Lamprell.

We are confident that Lamprell will continue to meet and exceed the expectations of its clients.”

Azur Oil announced that it has signed an Agreement with Malta Oil & Gas Ltd. for building two unique new jack-up drilling rigs based on Gusto Master’s degree CJ54-X135-A design. The Agreement was signed by His Excellency Khamis Juma Buamim, Chairman of Azur Oil & Maritime World and Mr. Paul Robert Thomson of Malta Oil & Gas Ltd.

His Excellency Buamim said, “There is a great demand for new offshore drilling rigs in the rapidly evolving upstream oil & gas sector. Our strategy to contribute to the growth of this sector has paid rich dividends. We are delighted to have made definite inroads into sophisticated engineering and construction to support this sector. Increasingly sophisticated and highly specialized drilling rigs are being used for deepwater exploration and development and this is the latest requirement of the sector and we are fully geared to meet the increasing demand.”

The Unit has dimensions of 76m x 76m and leg length 180.6m and is intended for operation in water depths up to 450 ft. It consists of a triangular shaped hull with three open truss legs, rack and pinion type elevating systems and leg-to-hull fixation systems. The rig will be capable of drilling HPHT (High Pressure High Temperature) wells. It is equipped with a permanent accommodation for 150 persons, a heli-deck suitable for the use of a S61N or S92 helicopter and a retractable X-Y type cantilever carrying the drilling derrick.

Azur Oil is undertaking a strategic development in its rig business from repair & refurbishment and rehabilitation to new building. The company is taking advantage of the presence of a highly-experienced management team and the ready availability of a strong dedicated engineering team to implement changes to original basic design, which holds the key to successful delivery. In addition, the Operational Excellence cycle is adhered to at all levels of production and the rig will be constructed in accordance to the cycle. The operation excellence initiative, which started with preliminary meetings involving clients has helped in understanding the rig’s operational requirements.