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Lamprell's business started in the 1970's in the United Arab Emirates when members of the Lamprell family moved to Dubai, including Steven Lamprell, the Company's President. The business progressively undertook a widening range of engineering projects, increasingly for the offshore marine industry. Lamprell commenced its first accommodation jackup rig conversion in 1989 and then the refurbishment of its first jackup drilling rig in 1992. Subsequently, having recognised a shortage of jackup rig repair skills in the region, Lamprell focused its efforts on this business activity. Lamprell has to date completed more than 180 rig upgrade and refurbishment projects and management believe it has established itself as the leading refurbishment contractor worldwide by number of jackup rigs completed in the Arabian Gulf.
In the late 1990's, largely driven by customer demand, Lamprell began to diversify into the new build construction market for the offshore oil and gas sector. Initial projects included the fabrication of calm buoys and mag anchors. Thereafter Lamprell was awarded and successfully executed increasingly complex fabrication projects, including the construction of FPSO process modules and an FSO external turret. More recently, Lamprell has adjusted its business focus again to undertake EPC new build construction projects.
This diversification into new build projects in the late 1990s, together with Lamprell's jackup rig refurbishment work, increasingly required more space and Lamprell decided to expand its operations to a purpose built facility in the Jebel Ali Free Zone in Dubai. This facility was completed in 2002 and has since been further expanded in response to growing demand for Lamprell's services.
The Company is further expanding the Jebel Ali Facility to include additional client offices, corporate offices, welfare facilities and warehousing to support the planned increase in liftboat, tender barge and FPSO process module building which the Directors foresee arising this year and beyond. The expansion has meant, and should continue to mean, that Lamprell is able to provide the same quality of service to larger projects.
Further, to enable the Group to meet the current strong demand from existing customers, and also to anticipate future demand (from both existing and new customers), Lamprell has entered into a lease agreement for additional land at the Hamriyah Free Zone in the Emirate of Sharjah and has also established a new facility at Sattahip in Thailand.
These facilities are expected to provide significantly greater direct quayside access than currently provided by the Sharjah Facility and are expected to enable Lamprell to operate more efficiently and to take on larger projects as well as, in the case of the Sattahip Facility, to provide it with access to a new regional market.
Currently, Lamprell is operating from the Hamriyah Facility to allow further growth to occur without physical constraints until the New Hamriyah Facility is operational, which is expected to be from the second quarter of 2009.
