# Lamprell

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{{Short description|Oil rig construction company}}
{{Infobox company
| name = Lamprell plc
| logo = Lamprell Group logo.jpg
| type = [Private](/source/Privately_held_company)
| foundation = 1976
| location = [Hamriyah](/source/Hamriyah), [United Arab Emirates](/source/United_Arab_Emirates)
| key_people = Ian Prescott, [CEO](/source/CEO) <br> 
Neil Millar, [COO](/source/Chief_operating_officer)
| industry = [Energy](/source/Energy)
| products = {{Unbulleted list|[Oil & Gas](/source/Oil_%26_Gas)|[Renewables](/source/Renewable_energy)}}
| revenue = {{increase}} [US$](/source/Dollar)338.6 million (2020)<ref name=ar>{{cite web|url=https://www.lamprell.com/~/media/Files/L/Lamprell-v3/reports-and-presentations/2021/lamprell-ar20-020721.pdf |title=Annual Report 2020|publisher=Lamprell|accessdate=29 July 2021}}</ref>
| operating_income = {{increase}} [US$](/source/Dollar)(32.0) million (2020)<ref name=ar/>
| net_income = {{increase}} [US$](/source/Dollar)(53.4) million (2020)<ref name=ar/>
| num_employees = 5,000 (2021)
| parent = 
| subsid = 
| homepage = {{URL|www.lamprell.com}}
| footnotes = 
}}
'''Lamprell''' plc, based in the [United Arab Emirates](/source/United_Arab_Emirates), specialises in construction and fabrication, servicing both the Renewables and Oil & Gas industries. It builds wind turbine foundations as well as shallow-water drilling [jackup rig](/source/jackup_rig)s, [liftboats](/source/Liftboat) and land rigs, and it also carries out rig refurbishment. In 2021 the company added a Digital business unit. It is listed on the [London Stock Exchange](/source/London_Stock_Exchange).

==History==
The company was established by [Steven Lamprell](/source/Steven_Lamprell) in 1976 in [Dubai](/source/Dubai).<ref name=stephen>{{cite web|url=http://www.arabianbusiness.com/top-50-most-influential-brits-in-uae-501889.html?view=profile&itemid=501809#.U6bQu_ldU1I|title=Top 50 most influential Brits in the UAE|publisher=Arabian Business|accessdate=22 June 2014}}</ref> The company established three sites in the [United Arab Emirates](/source/United_Arab_Emirates) and one in [Thailand](/source/Thailand) before starting jackup [rig](/source/drilling_rig) conversions in  the late 1980s.<ref name=stephen/> In the late 1990s, the company started to diversify into oil rig construction.<ref name=stephen/> In 2006 the company launched an [initial public offering](/source/initial_public_offering) on the [Alternative Investment Market](/source/Alternative_Investment_Market) and in 2008 it secured a full listing on the [London Stock Exchange](/source/London_Stock_Exchange).<ref name=stephen/>

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,<ref>{{Cite web|date=2012-07-17|title=UAE: Lamprell Builds Fourth Vessel for Seajacks|url=https://www.offshore-energy.biz/uae-lamprell-builds-fourth-vessel-for-seajacks/|access-date=2021-08-03|website=Offshore Energy|language=en-US}}</ref> and two wind turbine installation vessels to [Fred Olsen](/source/Fred._Olsen_Production).<ref>{{Cite web|date=2013-02-18|title=Norway: Lamprell Delivers Windcarrier 2 "Bold Tern", to Fred Olsen Windcarrier|url=https://www.offshorewind.biz/2013/02/18/norway-lamprell-delivers-windcarrier-2-bold-tern-to-fred-olsen-windcarrier/|access-date=2021-08-03|website=Offshore Wind|language=en-US}}</ref> 

The company acquired [Maritime Industrial Services](/source/Maritime_Industrial_Services), another maritime services business, for $336 million in July 2011<ref>{{cite news|url=http://gulfnews.com/business/banking/lamprell-buys-maritime-industrial-services-1.839414|title=Lamprell buys Maritime Industrial Services|date=11 July 2011|newspaper=Gulf News|accessdate=22 June 2014}}</ref> but was hit by a series of profit warnings in 2012 following a string of losses, delays and deferrals in individual projects.<ref>{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/energy/9689053/Lamprell-leaps-17pc-despite-issuing-fifth-profit-warning.html|title=Lamprell leaps 17pc despite issuing fifth profit warning|newspaper=The Telegraph|date=19 November 2012|accessdate=22 June 2014}}</ref> In March 2013, the company was fined £2.4 million by the [Financial Services Authority](/source/Financial_Services_Authority) in connection with the profit warnings and for its failure to keep the market properly informed.<ref>{{cite news|url=https://www.thetimes.com/business-money/companies/article/lamprell-fined-pound24m-for-the-profit-warnings-that-kept-coming-qpqpr0qhc5n|title=Lamprell fined £2.4 million for the profit warnings that kept coming|newspaper=[The Times](/source/The_Times)|date=19 March 2013|access-date=3 August 2021}}</ref>

The company entered the [Guinness World Records](/source/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.<ref>{{Cite web|title=Lamprell PUQ deck breaks Guinness World Records for heaviest load|url=http://www.oilreviewmiddleeast.com/industry/lamprell-puq-deck-breaks-guinness-world-records|access-date=2021-08-03|website=Oil Review Middle East|language=pl}}</ref>

In 2016, Lamprell won its first contract to construct 60 wind turbine foundation structures following an award from [ScottishPower Renewables](/source/Scottish_Power) for the [East Anglia](/source/East_Anglia) One project.<ref>{{Cite web|title=Lamprell wins USD-225m job on East Anglia One offshore wind project|url=https://renewablesnow.com/news/lamprell-wins-usd-225m-job-on-east-anglia-one-offshore-wind-project-548306/|access-date=2021-08-03|website=Renewablesnow.com}}</ref>

In 2017, Lamprell, via subsidiary Maritime Offshore Limited, joined a partnership developing the [King Salman Global Maritime Industries Complex](/source/King_Salman_Global_Maritime_Industries_Complex) in Saudi Arabia.<ref>{{cite news | url=http://worldmaritimenews.com/archives/193476/bahri-partners-step-closer-to-set-up-maritime-yard-in-saudi-arabia/ | archive-url=https://web.archive.org/web/20160602110751/https://worldmaritimenews.com/archives/193476/bahri-partners-step-closer-to-set-up-maritime-yard-in-saudi-arabia/ | url-status=usurped | archive-date=June 2, 2016 | title=Bahri, Partners Step Closer to Set Up Maritime Yard in Saudi Arabia | newspaper=World Maritime News | date=1 June 2016 | accessdate=13 May 2017}}</ref>

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.<ref>{{cite news|url=https://splash247.com/lamprell-agrees-46-5m-takeover/|title=Lamprell agrees $46.5m takeover|date=22 July 2022|newspaper=Splash 24/7|access-date=29 September 2022}}</ref>

==Operations==
Lamprell has three main business units: renewables, oil & gas, and digital.<ref>{{cite news|url=https://www.offshore-mag.com/business-briefs/company-news/article/14195614/lamprell-forms-three-business-divisions|title=Lamprell forms three business divisions|date=14 January 2021|newspaper=Offshore Magazine|access-date=29 July 2021}}</ref> Its main operations centres and yards are in the UAE and Saudi Arabia. In the UAE its main facility is located in Hamriyah,<ref>{{Cite news|title=Sharjah's Hamriyah Free Zone inks leasing deal with Lamprell|url=http://tradearabia.com/news/IND_372596.html|date=12 September 2020|access-date=29 July 2021|newspaper=Trade Arabia}}</ref> and it has a second facility in Jebel Ali and a third in Dubai Investments park.<ref>{{Cite news|title=Lamprell Steady Despite Softening Oil Market Outlook|url=https://www.rigzone.com/news/oil_gas/a/135810/lamprell_steady_despite_softening_oil_market_outlook/|date=7 November 2014|access-date=29 July 2021|newspaper=Rig Zone}}</ref> 

Lamprell also has a joint partnership with [Saudi Aramco](/source/Saudi_Aramco), Bahri and [HHI](/source/Hyundai_Heavy_Industries) in the Industrial Maritime Yard in Saudi Arabia.<ref>{{Cite news|title=Offshore Rig Builder Lamprell Shutters Two Yards|date=14 April 2020|newspaper=Maritime Executive|url=https://www.maritime-executive.com/article/offshore-rig-builder-lamprell-shutters-two-yards|access-date=29 July 2021}}</ref>

==References==
{{reflist}}

==External links==
*{{Official website}}

Category:Companies based in Dubai
Category:Construction and civil engineering companies established in 1974
Category:1974 establishments in the United Arab Emirates
Category:Companies established in 1976

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Adapted from the Wikipedia article [Lamprell](https://en.wikipedia.org/wiki/Lamprell) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Lamprell?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.