Lamprell Gets 2 Construction Deals With Nexen Totaling $200 Million

United Arab Emirates-based oil rig engineer Lamprell PLC (LAM.LN) said Tuesday it has been awarded two new construction contracts by Canadian energy company Nexen Inc. (NXY) in relation to its Golden Eagle Development in the U.K. North Sea, with a total contract value in excess of $200 million.

The first contract comprises a two-level wellhead deck, measuring around 50 meters by 50 meters and weighing around 4,000 tons.

The deck will be constructed at Lamprell's Jebel Ali yard and is scheduled for completion in the second quarter of 2013.

The second contract is for a three-level production, utilities and quarters, or PUQ, deck measuring 85 meters by 40 meters, and weighing around 10,000 tons. The PUQ deck will also be constructed at Lamprell's Jebel Ali facility and is scheduled for completion in the second quarter of 2014.

Chief Executive Nigel McCue said: "With these awards, Lamprell now enjoys order book visibility extending into second-quarter 2014, whilst remaining active with existing contracts and a strong bid pipeline."

Shares closed Monday at 241.1 pence.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com

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