Lamprell wins rig conversion contract with BWE

Lamprell said on Monday that its oil & gas business has won a "major" rig conversion contract with BW Energy (BWE).

The medium-sized project, which will begin immediately, is scheduled for completion next year. Lamprell said the scope of work involves the conversion of BWE's Hibiscus Alpha jack-up rig into an offshore production facility.

Chief executive Christopher McDonald said: "We are honoured to have been selected by BW Energy for this major rig conversion.

"Lamprell offers many decades of experience executing such work scopes and we look forward to working with our client to deliver a first-class asset safely over the coming months."

At 0910 BST, the shares were up 5.3% at 37.91p.