11 April 2022

LAMPRELL PLC
("Lamprell" and with its subsidiaries the "Group")

MOU FOR OFFSHORE FLOATING WIND PROJECT

Lamprell is pleased to announce that it has entered into a Memorandum of Understanding (MoU) with NOV, a leading energy services company, to support its delivery of three 1 gigawatt (GW) offshore floating wind farms for Cerulean Winds, the UK-based floating offshore wind farm and green hydrogen infrastructure developer. 

Under the terms of the MoU, NOV has stated its intent to use Lamprell as its provider for the fabrication, assembly and outfitting in relation to the construction of NOV designed tri-floaters to be used as floating foundations for the three wind farms. 

NOV and Lamprell will work closely to support and develop UK local content goals and will engage together in discussions with UK supply chain and UK yard(s) interested in participating in the projects, and able to offer suitable solutions.

In June 2021, Cerulean applied to develop a 3GW+ floating wind turbine project at sites West of Shetland and in the Central North Sea.  NOV was named as the first of Cerulean's major delivery partners for fabrication for this proposed 200+ turbine development and will act as the exclusive provider of floating and mooring systems.  If approved, the project is anticipated to be commissioned in 2026.

Christopher McDonald, CEO of Lamprell said:  "Today represents an important milestone for our floating wind ambitions.  Our long history in the traditional oil & gas sector has stood us in good stead for our transition into the renewables space where we have been active since 2007.  Offshore floating wind is a natural progression for the business and represents another step in the realisation of our strategy and establishing our credentials in the UK market.  We look forward to supporting NOV in the development of this transformational project for the industry and Scotland." 

Joe Rovig, President of NOV Rig Technologies, said:  "We are very pleased to have Lamprell on board with us as a partner for Cerulean's major infrastructure development. Lamprell's track record in offshore wind will complement our UK and European infrastructure and personnel and we look forward to making a joint contribution towards decarbonising the UK Offshore sector."

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Notes to editors

Lamprell

Lamprell is a leading provider of services to the international energy sector. Driving strategy and growth through its Renewables, Oil & Gas and Digital business units, underpinned by almost half a century of expertise, the Group has worked hard to establish its reputation for delivering projects safely, on time and to budget.

The Group has firmly established its international credentials in the renewables sector as well as continuing to build on its traditional oil and gas credentials. We are recognised for building complex offshore and onshore process modules and platforms, fabricating and refurbishing jack-up rigs and liftboats.

Lamprell employs more than 5,000 people across multiple facilities, with its primary facilities located in Hamriyah, in the UAE. Combined, the Group's facilities cover approximately 800,000m2 with over 1.5 km of quayside. In addition, the Group has facilities in Saudi Arabia (through a joint venture agreement). Lamprell is listed on the London Stock Exchange (symbol "LAM")."

NOV

NOV (NYSE: NOV) delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimising environmental impact. The energy industry depends on NOV's deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.  Visit www.nov.com for more information.