New Build Jackup Rigs

Lamprell has recently extended its jackup and liftboat services to include new build construction projects on an engineering, procurement and construction ("EPC") basis. The complete construction of a new build jackup rig commences with the engineering phase. Lamprell obtains the basic design for the rig from LeTourneau Technologies Inc. before the Group's own engineering department then develops this basic design, producing the detailed engineering and construction drawings required for the project. A three-dimensional model of the rig is produced using specialised software and this ensures that production efficiency is maximised during the construction phase.

The construction of the rig itself can be considered as the construction of several separate components, including the hull, spudcans and legs, the accommodation block, cantilever and drill floor. Throughout the construction phase a detailed pre-commissioning schedule is followed to ensure that all equipment and systems are properly installed and integrated prior to final commissioning and delivery.

To date, the Group has undertaken, or contracted to undertake, work on the following projects:

Seajacks Liftboats

The Group is currently simultaneously constructing two harsh environment special purpose self-propelled four-legged jackup liftboats. These EPC projects cover all aspects of project development from design to delivery. The first unit will be delivered in early 2009 and the second unit four months later.

Scorpion S116E jackup drilling rigs

Lamprell has contracted to construct and deliver to Scorpion Rigs Ltd. two completely outfitted and equipped LeTourneau designed Super 116E jackup drilling units. The first rig will be delivered in mid-2009 and the second at the end of 2009.

Riginvest GP S116E jackup drilling rig

The Group has also contracted with Riginvest GP for the construction and drilling of a LeTourneau designed Super 116E jackup drilling rig, for delivery in mid-2010.