Lamprell

Lamprell plc, based in the United Arab Emirates specialises in the oil rig construction business. It builds shallow-water drilling jackup rigs, liftboats, land rigs and carries out rig refurbishment. It is listed on the London Stock Exchange.

Lamprell plc
TypePublic (LSE: LAM)
IndustryOil and Gas
Founded1976
HeadquartersDubai, United Arab Emirates
Key people
John Kennedy, Chairman
Christopher McDonald, CEO
RevenueUS$871 million (2015)[1]
US$90.0 million (2015)[1]
US$65.2 million (2015)[1]
Number of employees
9,312 (2015)
Websitewww.lamprell.com

History

The company was established by Stephen Lamprell in 1976 in Dubai.[2] The company established three sites in the United Arab Emirates and one in Thailand before starting jackup rig conversions in the late 1980s.[2] In the late 1990s the company started to diversify into oil rig construction.[2] In 2006 the company launched an initial public offering on the Alternative Investment Market[3] and in 2008 it secured a full listing on the London Stock Exchange.[2]

The company acquired Maritime Industrial Services, another maritime services business, for $336 million in July 2011[4] but was hit by a series of profit warnings in 2012 following a string of losses, delays and deferrals in individual projects.[5] In 2016, Lamprell, via subsidiary Maritime Offshore Limited, joined a partnership developing the King Salman Global Maritime Industries Complex in Saudi Arabia.[6]

Operations

The Company has facilities in the following locations:[7]

References
  1. "Annual Report 2015" (PDF). Lamprell. Retrieved 2 June 2016.
  2. "Top 50 most influential Brits in the UAE". Arabian Business. Retrieved 22 June 2014.
  3. "Lamprell plc". All IPO. Retrieved 27 April 2014.
  4. "Lamprell buys Maritime Industrial Services". 11 July 2011. Retrieved 22 June 2014.
  5. "Lamprell leaps 17pc despite issuing fifth profit warning". The Telegraph. 19 November 2012. Retrieved 22 June 2014.
  6. "Bahri, Partners Step Closer to Set Up Maritime Yard in Saudi Arabia". World Maritime News. 1 June 2016. Retrieved 13 May 2017.
  7. "Our Operations – Lamprell Plc". www.lamprell.com. Retrieved 2018-05-30.
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