Rig designer and builder Lamprell has completed construction of the second Caspian Sea drilling rig, the Mercury, ahead of schedule.
Delivery of the jack-up will take place next month.
The company believes the completion will enable it to ‘release possibilities’ held in connection to the Neptune project.
Jim Moffat, chief executive, said: “I am delighted to report that we have completed the second drilling rig for use in the Caspian Sea, not only because of the significant beneficial impact on this year’s results but also because of the exemplary safety record on a highly complex project in a remote location.”
Lamprell shares were reportedly gaining 9.75 pence or 7.12%,trading at 146.75 pence in London.