Lamprell’s business started in 1976 in the United Arab Emirates (UAE) when members of the Lamprell family moved to Dubai. For the first two decades the company focused on small offshore energy sector projects ranging from repair and modification of drilling rigs, accommodation modules and land camps to the overhaul of cranes, winches and other rig machinery. Lamprell commenced its first accommodation jackup rig conversion in 1989 and the refurbishment of its first jackup drilling rig in 1992. The Company continued to focus its efforts on this business activity until the late 1990's, when it began to diversify into the new build construction market for the offshore oil and gas sector.
In collaboration with FPSO owner/operator SBM and the builders at Dubai Drydocks (now Drydocks World), Lamprell produced a number of complex modules for several high-profile FPSO projects between 1998 and 2003 and opened the eyes of the energy sector to the industrial capabilities to be found in the UAE. The company started formalizing along corporate lines in 1992, when the family brought in a CEO, Peter Whitbread, who over the next 17 years led the business from approximately $8 million in annual revenue to roughly $300 million, focusing mostly on jackup rig repair, conversion, upgrades and modifications and fabrication of FPSO topsides.
In 2007, Lamprell extended its new build expertise into the renewable energy sector with awards for the construction of self-propelled, self-elevating, Class2 DP liftboats and wind farm installation vessels. Lamprell was listed on the London AIM in 2006 and moved to the UKLA official list of the London Stock Exchange in 2008. The Company’s business growth required further expansion of its facilities which grew from one yard in Sharjah (UAE) to two other facilities, Jebel Ali and Hamriyah (both also in the UAE).
In July 2011, Lamprell acquired Maritime Industrial Services (MIS) expanding the Group’s services, customer base and the geographical range of its operations in addition to its facilities and capabilities. With great expansion came great challenge, and in 2012 the company experienced the most unsuccessful year in its history, posting profit warnings amid job delays and other setbacks. As a result, the management team and Board were replaced and in March 2013 a new CEO Jim Moffat, assisted by ex CEO Peter Whitbread, took over the day to day operations of the business, helping the company return to profitability.
Today, with head offices in Dubai, several bases of operation in the United Arab Emirates and Saudi Arabia, and approximately 10,000 employees worldwide, Lamprell is a far different organization from the family-owned operation that opened for business in 1976. In fact, in 2015, Lamprell released its 2014 Financial Annual Report with record breaking figures, including the largest number of major project deliveries and a record amount of new project wins.