Reuters: Financial Services and Real Estate: UPDATE 1-Lamprell wins $227 mln contract for oil rig

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UPDATE 1-Lamprell wins $227 mln contract for oil rig May 1st 2012, 06:40 Tue May 1, 2012 2:40am EDT LONDON May 1 (Reuters) - Oil rig maker Lamprell said it won a $227 million contract to build an oil rig, boosting its order book, as strong oil prices continue to drive demand for the infrastructure used to help extract oil and gas. Lamprell said on Tuesday that an international drilling company awarded it a contract to build a new jackup rig, adding to the $333.3 million contract it was awarded by Abu Dhabi's National Drilling Company (NDC) in April. "This is another good win for Lamprell and together with the recent awards from NDC appears to further evidence the sustained demand for these rigs," Oriel Securities analyst David Round said. In March, Lamprell said it was seeing plenty of bidding opportunities when it posted a 28.5 percent rise in earnings. Shares in the company, which have risen 44 percent in the last six months, closed at 348 pence on Monday valuing Lamprell at 906 million pounds ($1.47 billion).

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