courtesy Lamprell

Middle East yard Lamprell declared Friday that it has a $168-million deal with a rig contractor to build a new jack-up, provided the orderer shores up its financing.

Lamprell is being asked to build a LeTourneau designed Super 116E with 477-foot legs of the electro-mechanical rack and pinion elevating type for drilling in up to 350 ft. of water.

Housing for 110 personnel and drill floor and drilling depth of up to 30,000 ft. round out the orders capabilities.

The conditional contract is a lumpsum turnkey contract that covers all aspects of the rig order, including delivery in early 2009 and options for up to four more rigs to be exercised over an 18 month period starting in December 2007.