Lamprell PLC (LON: LAM)
LAM)

Global oil and gas markets are suspended between two competing drivers — rising pressure to decarbonize energy provision and rising demand for energy in developing economies. Executives must find new ways to uphold competitiveness and growth. The unique nature of the stress of 2020 has elevated three business imperatives for 2021: regulating business performance, creating new opportunities and strengthening technological foundations. The prices of oil and gas are dropping drastically due to failed agreements on production cuts. Moreover, the need for refined products has fallen from travel restrictions and industrial slowdowns, in turn impacting demand and supply.

With advancements in industry 4.0 innovations, the oil & gas (O&G) industry trends are set to transform the market in terms of safety, efficacy and smart solutions. The oil & gas industry is exploring ways to efficiently and competitively digitize, automate, and solve complex sub-surface engineering challenges. Solution providers in the sector are offering both onshore and offshore projects of varied scale and needs. There is one such solution provider proving its mettle in the oil and gas market by delivering world class projects.

Lamprell is a key player in the renewable and oil & gas energy markets with 45 years’ experience in delivering hundreds of small, medium and large onshore and offshore projects. They design and provide assets and services that help their clients to produce energy safely, efficiently and cost-effectively via their three business units: Renewables, Oil & gas and Digital. Lamprell’s oil & gas business unit comprises of activities in EPC(I), rig construction/refurbishment and other services in the industry, including their participation in Saudi Aramco’s LTA programme and Lamprell’s investment in the IMI joint venture in Saudi Arabia.

They provide competitive project services and solutions to the energy industry for the benefit of all stakeholders. This is delivered through the implementation of their strategic objectives, underpinned by their cultural and core values. The company’s business model adapts to changing circumstances and is designed to be flexible and resilient to support a broad and international customer base. With a robust strategy and dedicated management, Lamprell is committed to working collaboratively and transparently, to deliver a predictable, sustainable and profitable performance over the long term. They have experience in constructing and providing maintenance solutions for complex process modules, living quarters, FPSO units and various other offshore fixed facilities. Lamprell also offers contracting services which provide project support for onshore plants and terminals and smaller-scale fast-track EPC construction projects.

Their oil & gas strategy is focused primarily on the Middle East, the region with the lowest hydrocarbon lifting costs globally. With a well-established presence in both the UAE and Saudi Arabia, and through accessing local capability, goods and services, Lamprell is constantly seeking to maximize local content.

Lamprell’s work streams include Engineering, Procurement, Construction & Installation (EPCI) projects, Brownfield and refurbishment projects, pipelines, tank farms, pressure vessels and many more. These services are delivered by an experienced team of multi-disciplinary engineers and designers using the latest engineering tools and 3D modeling techniques. Lamprell’s engineering services include process, safety, mechanical and pressure vessels, electrical and instrumentation, piping, HVAC, naval, architectural and structural engineering disciplines. They provide expertise to integrate solutions of delivering the projects safely, on time and on budget using state-of-the-art Enterprise Resource Planning (ERP) platform and documentation systems.

“Lamprell is a key player in the renewable and oil & gas energy markets with 45 years’ experience in delivering hundreds of small, medium and large onshore and offshore projects”

Lamprell has one of the world’s leading facilities, comprising of a deepwater quayside for the construction of newly built jackup drilling rigs. Additionally, they feature a full suite of refurbishment services for both offshore and onshore rigs, including recertification, conversions and major upgrades. Till date, they have built and delivered a total of 28 offshore jackups and 11 onshore land rigs to clients across the globe, while having refurbished and converted hundreds of both. In 2017 Lamprell signed a joint venture agreement with Saudi Aramco, national shipping carrier Bahri and a heavy industry giant to establish and operate a maritime yard in the Kingdom of Saudi Arabia. The yard, officially branded as International Maritime Industries (IMI), will provide a broad range of services to the oil & gas and maritime industries. They will focus on construction and Maintenance, Repair and Overhaul (MRO) of offshore rigs, commercial vessels and offshore service vessels, and after completion IMI, will be the largest full-service maritime facility in MENA.

Lamprell is committed to working collaboratively and transparently, to deliver a predictable, sustainable and profitable performance over the long term

Lamprell has established a track record as one of the leading providers of fabrication services to the renewables industry. The group has also accelerated its focus on digital innovation and continued to advance its traditional business of providing jackup rigs and related energy infrastructure to the oil & gas industry. Lamprell oil and gas will build on a strong regional position in Saudi Arabia and the UAE to secure EPCI offshore, new build jackup rig and refurbishment projects while continuing to support smaller contracting services business.