Bermuda-based Company To Pioneer Liftboats In North Sea

Construction of jackup vessels to go ahead.

Lamprell plc, based in the United Arab Emirates have announced that the contracts from Seajacks International Limited, for the construction of two harsh environment special purpose self propelled four legged jackup vessels (liftboats), first announced on 1 February, 2007, have now come into effect following Seajacks' successful fund raising.

Work on the projects will begin immediately and it is expected that the first unit will be delivered to Seajacks in early 2009 with the second unit following four months later.

The vessels consist of a hull, four truss type legs and four electric rack and pinion jacking systems and will have a DP-2 dynamic positioning system using four propeller driven thrusters, as well as a main crane with a lift capability of 300 tonnes and a smaller 50 tonne auxiliary crane. The vessels will be used for well services and the repair, maintenance, modification, installation and decommissioning of offshore facilities in the UK, Dutch and Danish sectors of the Southern area of the North Sea.

Commenting on the award of these contracts, David Moran, Chief Operating Officer, Lamprell said:

"We are delighted to hear that these contracts have now come into effect. The prospect of being able to showcase our expertise and skills in the new build arena through these projects is very exciting and we look forward to working with Seajacks on this and future projects."

In addition to the awards for the first two units, Lamprell and Seajacks have agreed options for a further three units to be exercised over an 18 month period from February 2007.

Seajacks International is a Bermuda-based company.