Lamprell has won a US$365 million contract to construct and deliver two jack-up rigs.
The award from the National Drilling Company follows earlier orders for six identical rigs.
They will be built in the Hamriya facility of the UAE company. The company pledged to complete them on time and on budget.
The latest contract will result in the rigs being delivered around the fourth quarter of 2016 and second quarter of 2017.
“With the latest contract win, Lamprell has been awarded a total of six firm jack-up rigs in 2014,” Lamprell’s chief executive James Moffat said.
Lamprell said that NDC also had the right to exercise options for Lamprell to build an additional three jack-up rigs.
The number of well completions in the Arabian Gulf is expected to rise to 541 by 2020 from 370 in 2013, according to a report by Douglas-Westwood.
The GCC is becoming an offshore hub, with Dubai controlling 80 per cent of ship repair and 60 per cent of rig repairs. With more offshore drilling in the works, the demand for jack-up rigs in the region is growing.
London-listed Lamprell employs about 10,000 people across multiple facilities, with its primary yards located in Hamriyah, Sharjah and Jebel Ali.
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yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
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