| Lamprell plc | |
| Type: | Private |
| Foundation: | 1976 |
| Location: | Hamriyah, United Arab Emirates |
| Key People: | Ian Prescott, CEO Neil Millar, COO |
| Industry: | Energy |
| Revenue: | US$338.6 million (2020)[1] |
| Operating Income: | US$(32.0) million (2020) |
| Net Income: | US$(53.4) million (2020) |
| Num Employees: | 5,000 (2021) |
Lamprell plc, based in the United Arab Emirates, specialises in construction and fabrication, servicing both the Renewables and Oil & Gas industries.[2] It builds wind turbine foundations as well as shallow-water drilling jackup rigs, liftboats and land rigs, and it also carries out rig refurbishment. In 2021 the company added a Digital business unit servicing not only the renewables and oil & gas sectors but other related industries. It is listed on the London Stock Exchange.[3] [4]
The company was established by Steven Lamprell in 1976 in Dubai.[5] The company established three sites in the United Arab Emirates and one in Thailand before starting jackup rig conversions in the late 1980s.[5] In the late 1990s, the company started to diversify into oil rig construction.[5] In 2006 the company launched an initial public offering on the Alternative Investment Market and in 2008 it secured a full listing on the London Stock Exchange.[5]
Lamprell diversified its offering further, from predominantly servicing the oil & gas market to entering the renewables' arena in the early 2000s. It delivered four self-propelled jackup vessels for offshore oil & gas and offshore wind turbine installation to Seajacks,[6] and two wind turbine installation vessels to Fred Olsen.[7]
The company acquired Maritime Industrial Services, another maritime services business, for $336 million in July 2011[8] but was hit by a series of profit warnings in 2012 following a string of losses, delays and deferrals in individual projects.[9] In March 2013, the company was fined £2.4 million by the Financial Services Authority in connection with the profit warnings and for its failure to keep the market properly informed.[10]
The company entered the Guinness World Records book in 2014 for the "heaviest load moved by self-propelled modular trailers" for moving a 13,191.98 metric tonne Production, Utilities and Quarters (PUQ) deck for its client Nexen Petroleum UK.[11]
In 2016, Lamprell won its first contract to construct 60 wind turbine foundation structures following an award from ScottishPower Renewables for the East Anglia One project.[12]
In 2017, Lamprell, via subsidiary Maritime Offshore Limited, joined a partnership developing the King Salman Global Maritime Industries Complex in Saudi Arabia.[13]
In 2022, the company announced that Thunderball Investments, a company owned by Blofeld Investment Management and AlGihaz, had made an offer for the company worth £38.8m ($46.5m) which the board of Lamprell had accepted.[14]
Lamprell has three main business units: renewables, oil & gas, and digital.[15] Its main operations centres and yards are in the UAE and Saudi Arabia. In the UAE its main facility is located in Hamriyah,[16] and it has a second facility in Jebel Ali and a third in Dubai Investments park.[17]
Lamprell also has a joint partnership with Saudi Aramco, Bahri and HHI in the Industrial Maritime Yard in Saudi Arabia.[18]