Lamprell, a company building large structures for the offshore energy industry, has won a rig conversion contract with the Oslo-listed oil and gas company BW Energy (BWE).
The scope of work involves the conversion of BWE’s Hibiscus Alpha jack-up rig into an offshore production facility.
The company, with construction yards in the UAE, said the medium-sized project would start immediately. Lamprell defines a "medium-sized contract" as between USD 6 million and USD 50 million. The project is slated for completion in 2022.
Back in November 2020, BW Energy bought two jack-up drilling rigs from the drilling contractor Borr Drilling. The company said at the time it would use a converted rig for the development of the Hibiscus/Ruche satellite field in the Dussafu license offshore Gabon. BW said that using a converted jack-up rig would reduce investments and time to first oil.
BW Energy acquired two cold-stacked, 2003-built sister units “Atla” and “Balder” for $14.5 million in total.
“A jack-up conversion will enable us to reduce capital investments by about USD 100 million compared to our previous development plan,” said Carl Krogh Arnet, the CEO of BW Energy said last year.
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