Dear Readers,
I am pleased to present the first of four editions of Lamprelltimes scheduled for release this year. As CEO, my commitment is to furnish you with concise yet comprehensive updates on a regular basis, ensuring you remain informed on the latest achievements, ongoing project news, recognition, and strategic directions at Lamprell.
Reflecting on the previous year, our team concluded 2023 with a memorable year-end celebration, a testament to our collective hard work. This event was attended by members of the Lamprell Board, marking a positive kickoff to the new year.
The start of 2024 has been productive, maintaining the momentum typically seen post the holiday season. Our offshore wind and oil & gas business streams have been actively progressing in their respective projects; you can learn more about these developments in the newsletter.
In light of Aramco’s recent statement on the KSA Ministry of Energy’s directive to sustain Maximum Sustainable Capacity at 12 million barrels barrels per day, achieved partly through deferring not yet awarded
projects and reducing infill drilling, we anticipate some delays in the award of certain LTA CRPO projects. Our client needs to make decisions that are best for their business, and we will respond accordingly.
We have a solid and diversified business, encompassing different industry sectors and a broad customer base. Our strategy includes actively pursuing alternative oil & gas related projects, and uniquely in our region, we have our renewables division, where we have already achieved remarkable progress. This includes the recent signing of the reservation agreement for the Norfolk offshore wind project, where we were selected as the preferred contractor for project execution.
Our commitment to excellence continues to be recognised in the industry. Lamprell has received accolades for safety, digital innovation, and operational efficiency, details of which are elaborated further in this issue. Our visibility in the sector has been strengthened through features in Boss Magazine and Oil and Gas News.
On the internal front, our employees have been engaging in a range of wellness activities. A highlight was our recent football and cricket tournaments, where the Yard Scaffolding and Lamprell Strikers teams emerged victorious – two commendable achievements.
In closing, I want to extend well wishes and a happy Eid to those celebrating. On behalf of the entire Lamprell family, we wish you a peaceful and joyful holiday.
Ian Prescott
Lamprell CEO