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Kalyakan - stock.adobe.com
In a trading update Lamprell said it continued to see a steay flow of smaller rig refurbishment projects with 16 so far this year and further six ongoing in the yard.
“We view this as indicative of a positive trend for the jackup rig market in the Middle East region as clients look to de-stack their rigs and renovate them prior to redeployment,” the company said.
Read more: Saudi mega-yard IMI to sub-contract component work for first rig newbuilds to Lamprell
The shipyard is also seeing increased opportunities for new work as activity starts to pick-up in the offshore space.
“Although the market environment remains highly competitive, tendering activity has increased significantly during the period as we are currently bidding a number of major opportunities in both of our targeted end markets of oil & gas and renewables, and we are actively engaged in discussions with different potential clients for new projects in our key markets,” it said.
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