Strategy Overview

By 2020 Lamprell aims to be a leading global fabrication and EPC service provider to the energy industry, consistently delivering safe, high quality, competitive, on time solutions to our customers while providing steady growth and predictable returns for our shareholders. Our ability to deliver on our vision is based on a number of strategic objectives, that is to say building blocks from which the strategy can be developed and implemented, and the vision ultimately achieved.

   


Over 40 Years’ Experience

Lamprell has an international reputation for building complex offshore and onshore process modules as well as fixed platforms and topsides, and holds leading market positions in the delivery of EPC projects such as jackup drilling rigs and multi-purpose liftboats. We also have a proven track record for a variety of oil & gas contracting services such as land rigs, rig refurbishment projects and for our maintenance operations and site works services. This reputation has been earned over the course of 40 years of business and the depth of our experience reflects the maturity of the business.

Diversification

In order to diversify our revenue streams more evenly across the portfolio and generate sustainable growth, we have a stated intention to broaden our addressable markets. We pursue this in a variety of ways. We have successfully extended our client base into new top tier clients over the last two to three years and this remains a key priority. We are adapting our expertise in ways to apply transferable skills into complementary sectors. Our bid pipeline is constantly being refined and updated to reflect the changing circumstances of the market and to take into account these new markets.

Partnerships and Joint Ventures

Looking further to the future, we have a broader prospects pipeline which considers both our strategic objectives and those target prospects which align with them. We are building our capabilities to take on larger and more complex EPC projects. Depending on the size of a project, we may look to create and develop partnerships that enable participation in the project and offer the greatest potential to grow the business going forward. We speak to potential partners in connection with participation in a single project or on a longer-term basis, such as seen with the proposed Saudi Maritime Yard. We recognise that this can often be in the clients’ best interests as this improves competition in the market and it allows specialist businesses to team up and provide the best-in-class solution to suit a client’s needs. This is aligned with our objective of providing best value for money.

Our Values and Key Strengths

We have core values of Safety, Fiscal Responsibility, Integrity, Accountability and Teamwork; we ensure that our workforce understands the importance of them in our business and we apply them in our practices and processes. Along with our key strengths, they help us to differentiate our offering and to define a clear roadmap to achieve our strategic vision for Lamprell.