LIMITED NOTICE TO PROCEED PENDING NEW CONTRACT AWARD

Lamprell is pleased to announce that it has received a limited notice to proceed (LNTP) from the Saudi-based contractor, Bas Global Marine Services (BGMS), in anticipation of the full award in Q2 2022. The full scope of work on this large* contract relates to the delivery and construction of multiple jack-up lift barges to BGMS. The scope of work under the LNTP is for early works, including the procurement of materials and mobilisation of the Group’s project management team. All project activities will be undertaken in Lamprell’s Hamriyah facilities and work will start immediately, with project completion planned for 2H 2023.

Commenting on the new award, Chief Executive Christopher McDonald said:
“We are very pleased to be working on this project in support of BGMS’ contract with Saudi Aramco, a key customer for Lamprell for whom we are undertaking a number of other projects. We have a well-established and proven track record for constructing jack-up vessels for use in the offshore energy sector and we are confident of our ability to deliver this project safely and on time.”

*Lamprell defines a “large contract” as between USD 51 and USD 150 million
This announcement contains information in relation to the potential award of a major new contract which is deemed by the Company to constitute inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 (as amended) as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended).

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Media enquiries:
Sofie Verbruggen: sverbruggen@lamprell.com
Lamprell Corporate Communications: communications@lamprell.com