Lamprell reaches settlement for jackup rig

Lamprell has announced that it has reached an agreement with Ensco to settle all claims arising from the late delivery of jackup rig Ensco 140, with the rig has now having been successfully delivered.

According to the agreement, Lamprell has agreed a $25m deduction from the final milestone payment in respect of the late delivery, which was due to failures in the jacking equipment, supplied by equipment manufacturer, Cameron LeTourneau.

Lamprell will provide additional services for the Ensco 140 and 141 rigs, including temporary storage and grant an extended warranty for the jacking equipment supplied by Cameron.

Lamprell said that it fully intends to seek compensation from Cameron to recover costs associated with the technical defects in the equipment.