Lamprell has been awarded a major contract by Saipem of Italy to fabricate key process modules for an oil tanker being converted into a floating production storage and offloading (FPSO) vessel.
The modules will be built at Lamprell's yard in the Jebel Ali Free Zone and are scheduled for delivery by next June, said Stephen Smith, marketing manager for Lamprell Energy Ltd. The contract value was not revealed.
Saipem, a subsidiary of the ENI group, is chartering the FPSO to Petrobras of Brazil as part of the development of the offshore Golfinho field.
The modules being constructed by Lamprell for the FPSO will consist of lift gas compression modules, manifold module and power generation module, said Smith.
Lamprell will also undertake the design and building of the local equipment room.
On completion the modules will be delivered to Dubai Drydocks for integration to the hull, said Smith.
Lamprell is a British owned company with its corporate headquarters in Sharjah. It provides specialised services to the offshore oil industry globally.
Lamprell has new contracts for the upgrade and refurbishment of four jack up rigs for various international clients and for four land rigs scheduled for completion over the next 18 months, said Smith.
Because of record oil prices the industry has been buoyant, resulting in greater deployment of rigs worldwide.
Demand has increased for refurbished and upgraded rigs which have shorter delivery times and are more economical.
Currently about 80 jack up rigs are deployed in the region, up from 72 several years ago.
According to industry sources the number will soon exceed 86 as there are four or five jack up rigs under repair and five on their way from the US to the region for refurbishment, said Smith.
Jack up rig newbuilds cost at least $156 million and take a year to 16 months to be completed.
Existing rigs, which are upgraded and enhanced, cost almost half that of a newbuild depending on the scope of work required.
