LAMPRELL: 50th Year: The Best Ever

Lamprell’s story over the past three years has been one of intent meeting execution. When Energy Focus asked CEO Ian Prescott in 2023 about overcoming challenges, a reset was underway — new leadership, new ownership, and a clear strategy to reposition the UAE-based engineering specialist for a changing global energy mix. Today, as the company marks its 50th year, that strategy is visible in yards at full capacity, contracts across continents, and a pipeline of work that signals both confidence and continuity. 

Prescott, who arrived in April 2023, offered the Board a sharpened focus and a rebuild of momentum. The strategy, approved just months later, has underpinned a period of sustained growth. “Since then, we have been implementing and refining that strategy. We have secured in the order of $5 billion of new business and it has been quite a journey,” he says. 

That journey has been shaped by reinforcing Lamprell’s strengths in offshore oil and gas while scaling its presence in renewables and expanding geographically. Backed by Algihaz Holding, the company has leaned into its fabrication pedigree while building out capabilities that elevate it from contractor to full EPCI player.

The shift is tangible and the appetite for further success is present across the entire business. In 2023, the focus was on stabilisation. In 2026, Lamprell is targeting record performance across delivery, safety, and financial metrics. “This year is our 50th anniversary and our objective in 2023, included in a statement we made for the owners, was to make 2026 the most successful year in the company’s history. We are on track to achieve that, and we are very excited about what will happen this year,” Prescott states.

Growth has not been without challenge, but the company has remained agile, pivoting where necessary while always maintaining a strict focus on strategic direction. 

RENEWABLES PUSH

The renewables sector has become a defining pillar of Lamprell’s evolution. Early success came through the Moray West project in the North Sea, delivered for Ocean Winds. That contract proved capability and opened doors to further work. 

“It was a huge success for us and the client, and from there we have leveraged our capability and won two further projects in the renewable space for RWE with Vanguard East and West. Those are prestigious projects with 92 transition pieces per project and are helping to drive the renewables sector in the UK market,” explains Prescott. 

The RWE contracts anchor Lamprell’s renewables pipeline well into the decade. “RWE have been an excellent client,” he adds, “and we signed an agreement which has progressively allowed us to make commitments such as securing materials, transportation, and long-lead equipment. That allowed us to cut steel a month ahead of schedule, in December 2025.”

World-class execution has followed the ambition, with quality as the ultimate driver of activity. “The project is going incredibly well, and we have already produced 12 black steel transition pieces, meaning they still need to undergo coating and other works before being fully complete. We are ahead of where we need to be, and that is positive because we have invested heavily in the production line,” says Prescott.

Investment in capacity, efficiency, and sustainability has been received, but not to correct mistakes, rather to enhance capability. “We looked at how we could improve after the Oceans Wind project and we installed additional rolling capacity which is now online and helping us to ramp up production. We have also invested in robotic painting systems, which allow us to paint a whole TP in 10 days rather than 25. From an environmental perspective, we are using significantly less paint than we were previously,” declares Prescott.

The result is a faster, cleaner production model aligned with tight offshore wind development schedules.

GLOBAL REACH

Geographic expansion has been another defining feature. While the Middle East remains its base, Lamprell has extended its footprint into high-growth and high-potential markets.

“We were very honoured to be awarded the ONGC project, PRP 9, in India,” says Prescott, who has worked across the Asia Pacific region extensively. “We are just about to start the Season 1 campaign with Season 2 to come next year. ONGC have very ambitious plans and they are constantly renewing and regenerating assets in the field, and we want to be a part of that. We think it will help us establish our reputation in India.”

This is backed by further investment which has seen the opening of an office in Chennai. Starting out in 2024 with 10 people, that office now has almost 250 Lamprell people with full engineering, supply chain, HR, IT and finance functions. “It supports the wider business and helps our competitiveness with global projects,” states Prescott.

The company has also opened an office in China to leverage supply chain opportunities, and continues to evaluate prospects in Europe to support its renewables work.

“Lamprell Energy Ltd wants to support the energy sector, whether that is traditional or modern renewables. There is an obvious energy transition happening, and the world needs both oil and gas and renewable energy, and we will support both,” Prescott confirms. “We have a diversified business model and that allows us to leverage from our capabilities in the Middle East while looking at projects globally.”

This diversification has helped navigate market disruption with the offshore renewables sector in the US market effectively put on hold. “We were active there and we had a number of great prospects in that market which we had to step back from. We started instead looking at the UK and Europe, but these markets also slowed. We were pleased to secure the RWE projects and they will keep our production lines busy until the back end of 2027,” says Prescott.

BACKED FOR GROWTH

Strong ownership has been an unrivalled enabler of long-term planning and investment in Lamprell’s growth story. Since delisting in 2022, Algihaz has played a central role.

“They have been hugely supportive, investing more than £300 million,” says Prescott.

That support extends beyond capital, including the development of complementary capabilities that enhance Lamprell’s EPCI offering. In 2024 Algihaz heard the call from Lamprell to offer transport and installation capability inhouse. The group established Algihaz Marine Contractors and purchased the Champion – a heavy lift pipelay vessel – currently active in the Gulf. 

“Algihaz backing has been second to none – they have supported our ambitions every step of the way. The last three years has given us huge successes, but it hasn’t been without challenges. Every time we’ve needed Algihaz, they have stepped up, so we are very happy.”

The company is also investing in digitalisation to improve efficiency. “We have a very significant digital arm, and we have a strong team working on digitalisation, producing digital twins for our projects. We have digitised recruitment, and we are looking across the organisation, with many initiatives, at opportunities to improve efficiency through digitalisation.”

ENDURING LEGACY

50 years on, Lamprell remains closely connected to its heritage. Founder Steven Lamprell remains a shareholder, and that legacy continues to shape the business.

“He regularly relays stories around how the company was formed and talks about bringing a vessel from the UK to the Middle East to start work with local companies,” smiles Prescott.

That continuity is reflected in the workforce. “Today, we have around 5000 people in the company. By the end of the year, we will have closer to 10,000. But, over 1000 people have been with us for more than 15 years. I regularly give out long service awards to people who have been here for 30+ years, and we see very clearly that the founding DNA still runs strong in the company.”

While operational resilience has been tested, particularly in recent months, the company’s agility despite its size has been clearly demonstrated. “Today, all of our job sites and yards are fully operational. We have had some supply chain challenges in terms of getting materials through the Strait of Hormuz, but we have managed to navigate that through the use of other ports in the UAE at Fujairah and Khor Fakkan, and Sohar and Duqm in Oman.”

Performance metrics, and a culture of focusing on the smaller details to achieve the bigger goal, reinforce the sense of accomplishment. “We are a market leader in HSE. Last year, our target was 0.6 total recordable incident frequency rate, but we achieved zero – we did not have a single recordable incident. In 2026, we have gone through the first quarter with the same standard,” says Prescott.

As Lamprell moves deeper into its 50th year, the focus is on execution at scale. With a strong backlog, expanding footprint, and continued investment, the company is positioning itself as a key player in an energy landscape where oil, gas, and renewables coexist — and where engineering capability remains at the centre of progress.