BUZZ-Lamprell: Jumps on winning contract from Saudi Aramco

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Time: November 26, 2018   

Lamprell will focus on the engineering, procurement & construction of offshore structures

** British oil rig builder Lamprell’s shares rise 12 pct after winning Saudi Aramco‘s Offshore Long Term Agreement for Offshore Facilities (LTA) Programme, along with partners

** Co says investments could exceed $3 bln/annum with an initial programme duration of 6 years, with options by Saudi Aramco to extend for a further 3 plus 3 years

** Shares best performers on the FTSE Small Cap Index .FTSC , which is up 0.3 pct as at 0844 GMT

** Shares rise as much as 15.3 pct to 70 pence

** Lamprell will focus on the engineering, procurement & construction of offshore structures

** The UAE-based co submitted its bid in a consortium with Dutch marine engineer Boskalis Westminster BOSN.AS , whose shares are up 6.5 pct and among the top boosts to the pan-European index, Stoxx 600 .STOXX

This article was first published in ZAWYA

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