Rigbuilders and offshore engineers Lamprell have announced their performance for 2013 is expected to beat their previous forecasts.

Lamprell has been awarded a $64m rig-refurbishment contract for Millenium Offshore Services’ (MOS) rig MOS Frontier.

Lamprell ceo James Moffat took the opportunity to explain his views on rigbuilding competition from Asia after announcing a stronger first half for the company.

Lamprell Plc has exceeded its own expectations and returned to profit with net earnings of $14.7m for the first half of the year, improving on 2012's $37.8m loss for the same period.

Dubai: Offshore ship and rig yard group Lamprell today announced a full year net loss of $110.5m for 2012 as earnings fell 8.9% to $1bn.