Lamprell Mideast yards working on 20 jackups, other orders

Offshore staff

SHARJAH, UAE -- Middle East fabricator Lamprell’s order book through 2013 totals $933 million.

This includes $807 million from EPC projects, $32 million from offshore construction projects that include offshore wellhead platforms, FPSOs and accommodation modules, and $53 million from jackup rig refurbishment projects.

So far this year, the company has worked on 20 jackup refurbishments, split between its Hamriyah facility (14 rigs) and the Sharjah yard (6).

Last week, the company reached an agreement with Dubai-based competitor Maritime Industrial Services (MIS) to purchase 100% of the latter’s shares for around NOK 1,869 million ($335 million).

MIS’ board has recommended the company’s shareholders accept the offer, which will be fully financed through a combination of a rights issue, underwritten by J.P. Morgan Securities, HSBC Bank and Merrill Lynch International; a new senior secured acquisition facility; and cash.

05/25/2011



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