Lamprell, a leading provider of engineering, procurement, construction and other contracting services for the energy industries, has announced a strategic reorganisation of the group into three distinct business units: Renewables, Digital and Oil & Gas.
The move is mainly aimed at increasing the group’s focus on renewables and the energy transition, increase alignment with customers and enable the group to take full advantage of the significant opportunities in its core markets, said the statement from Sharjah-based group.
Lamprell said the renewables business comprises its existing projects providing wind turbine
generator foundation fabrication services to offshore wind.
Renewables opportunities currently make up $2.5 billion (around 40% of the group’s bid pipeline) with the increase attributable to US renewables entering the pipeline, stated its top official.
"We expect to see continued strong growth in renewables opportunities in the coming years, driven by rapid expansion in core markets and by the commercialisation of floating wind which is expected to provide significant opportunities mid-decade onwards," remarked CEO Christopher McDonald.
Lamprell’s experience, expertise and central geographic location provides the group with a strong position to access the expansion of offshore wind globally, an industry forecast to require over $300 billion of capex in the next five years alone.
According to him, Lamprell Renewables will accelerate the group’s focus on renewables projects, building on its track record in foundations and expanding Lamprell’s addressable market to product and market adjacencies where the group’s skills have high relevance, such as base structures for
floating offshore wind, HVDC & HVAC platforms and floating/offshore hydrogen production
Lamprell Renewables will also explore opportunities for the group to collaborate with
others so as to increase our execution capacity and support the local content objectives of our
clients, as well as to move up the renewables value chain over time, consistent with the
Group’s strategic focus on EPC, he added.
On the digital business, McDonald said it encompasses the technology and IP development teams that have successfully implemented a range of technologies in the group’s yards, such as the
deployment of adaptive robotic welding, facial recognition technology and a proprietary digital
quality management system.
It also comprises Lamprell’s partnerships with Injazat/G42, which is considered to be the region's leading digital developer backed by Mubadala Investment Company, and Akselos, a leading developer of simulation technologies.
On the oil and gas business, McDonald said the group’s traditional activities are rig fabrication and
refurbishment, onshore EPC and other services, as well as planned expansion into Offshore EPCI under the Saudi Aramco LTA.
Central to the Lamprell’s oil and gas strategy is its differentiated positions in the UAE and Saudi Arabia, stated McDonald.
The Sharjah group is committed to the IMI joint venture, which provided the group with a contract for two newbuild jackup rigs in 2020 as well as an engineering design contract for further rigs, supporting its commitment to fleet expansion over the next decade, he noted.
McDonald said "In the four years since I joined Lamprell we have been reimagining the business for the future. Today we set out the shape of Lamprell as it looks forward, taking its long and proud history of providing services to the energy industry and accelerating its focus on renewables and
"This evolved structure will provide the business with greater focus as we seek to take full advantage of the many opportunities we see across our end markets," he added.-TradeArabia News Service