UAE offshore fabrication engineering group Lamprell has announced a strategic reorganisation of its business to increase its focus on renewables and energy transition.
Lamprell says the change will increase its alignment with customers and enable it to take full advantage of the opportunities in its core markets.
“In recent years, Lamprell has established a track record as one of the leading providers of fabrication services to the renewables industry. Since 2017, the Group has fabricated over 100 foundations for the UK’s flagship offshore wind farms, with serial production for renewables projects becoming a core area of expertise for Lamprell. At the same time, the Group has accelerated its focus on digital innovation and continued to advance its traditional business of providing jack-up rigs and related energy infrastructure to the oil & gas industry, with a strong competitive position in the Arabian Gulf,” the company stated.
To align with this, Lamprell is splitting its business into three units which are renewables, digital, and oil and gas.
Lamprell Renewables comprises the group’s existing projects providing wind turbine generator foundation fabrication services to offshore wind, Lamprell Digital encompasses the technology and IP development teams that have successfully implemented a range of technologies in the group’s yards, while Lamprell Oil & Gas takes in the company’s traditional activities in rig fabrication, rig refurbishment, onshore EPC and other services.
Christopher McDonald, CEO of Lamprell, said: “In the four years since I joined Lamprell we have been reimagining the business for the future. Today we set out the shape of Lamprell as it looks forward, taking its long and proud history of providing services to the energy industry and accelerating its focus on renewables and digital technologies. This evolved structure will provide the business with greater focus as we seek to take full advantage of the many opportunities we see across our end markets.”
Lamprell is set to post 2020 revenues of around $340m, significantly higher than the $260.4m achieved in 2019.