Dear Readers,
As we close out the second quarter of 2025, I’m proud to reflect on the momentum we’ve continued to build across the business. From project execution and safety performance to certifications and client engagement, this quarter has demonstrated the strength of our teams and highlighted our capabilities.
Our HSE performance has been a little short of outstanding this year. We’ve maintained a Total Recordable Incident Rate (TRIR) of 0 across the business, with a rolling average of just 0.04, a result that speaks volumes about the commitment and vigilance of our teams on every site.
This quarter also saw the publication of our 2024 Sustainability Report, which outlines our progress across environmental, social, and governance areas, and reaffirms our commitment to delivering responsibly as we grow.
In our oil and gas division, we’ve continued to make solid progress across all three offshore EPCI projects, with efforts on two of these shifting towards the execution of critical subsea activities. We also completed two offshore rig upgrade projects for ADNOC, and in our land rig division, execution is underway on two CTD units for Schlumberger.
Meanwhile, in our offshore wind division, we marked a significant moment with the formal project kick-off for Vanguard West and East. It was a pleasure to host senior representatives from RWE and to hear their feedback on our people, our facilities, and the improvements we’ve made in preparation for this next phase.
I’m also pleased to highlight the signing of a new MoU with Dong Fang Offshore for a next-generation WTIV. Talks with this client are progressing well, and we’ll share further updates as they become available.
Across all our operations, we continue to uphold the highest standards in quality and compliance. This quarter, we completed multiple audits with zero findings, including API Q1, API 4F and 16C, thanks to the hard work and discipline of our quality, HSES and functional teams. We also successfully transitioned to ISO 27001:2022 thanks to the hard work of our IT team.
We had a strong presence at the Global Offshore Wind exhibition in London in June, where we exhibited for the first time and met with key clients and partners. We also took the opportunity to launch our OFTO (Offshore Transition Owner) wrap solution, developed in partnership with our sister company Enshore, and reinforced our position as a trusted player in the growing offshore wind market.
Elsewhere in the business, we welcomed two new Non-Executive Directors to the Board, strengthening our governance as we continue to grow. The Board has been instrumental in supporting Lamprell’s rapid growth, aligned with the strategic direction set by our owners.
Our BD teams have been actively expanding our pipeline, which now exceeds $55 billion. These efforts are already showing results, with major tenders recently secured. More information on this will be shared in due course, and we remain optimistic about future developments.
Looking ahead, we remain focused on safe delivery, operational discipline, and executing the projects that will drive Lamprell’s next chapter. To everyone across our teams, thank you for the energy, resilience, and dedication you bring every day. This progress simply wouldn’t be possible without you. And last but not least, thank you to our clients for your continued trust in us. We remain committed to delivering high-quality results and reliable execution across every project.