Lamprell has successfully completed and delivered the first of two Caspian Sea jackup rigs to the client, marking another significant milestone for the Group. The rig has now been delivered to the client and was recently towed out from the Astrakhan re-assembly yard to commence operations on its first contract elsewhere in the Caspian Sea.

The Group is making good progress in relation to the on-going second Caspian Sea project, which is already well under way and is expected to be delivered in Q4 2014. The first two module shipments have already been transferred from the Group's facility in Hamriyah to the Astrakhan yard as planned and on time.

James Moffat, Chief Executive Officer, Lamprell, said, "We are pleased to have completed construction on the first of two jackup rigs for use in the Caspian Sea region and to have delivered it to our client meeting our usual high build quality. The project has been highly complex as a result of the new approach for delivery, with modular fabrication, assembly and disassembly being undertaken in the Group's Hamriyah facility, transfer to the Caspian Sea region and then re-assembly in a yard in Astrakhan. The successful delivery has only been possible as a result of the dedication and the close collaboration of Lamprell and the client teams."

Tags: Lamprell PLC