Type Public (LSE: LAM) Founded 1976 Net income US$65.2 million (2015) Headquarters Dubai | Industry Oil and Gas Operating income CEO Christopher McDonald Revenue 871 million USD (2015) | |
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Key people John Kennedy, Chairman
James Moffat, CEO Stock price LAM (LON) 101.00 GBX -1.00 (-0.98%)10 Mar, 4:35 PM GMT - Disclaimer Subsidiaries Maritime Industrial Services | ||
Lamprell
Lamprell plc, based in the United Arab Emirates specialises in 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.
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Lamprell windcarrier load out
History
The company was established by the Stephen Lamprell in 1976 in Dubai. The company established three sites in the United Arab Emirates and one in Thailand before starting jackup rig conversions in the late 1980s. In the late 1990s the company started to diversify into oil rig construction. In 2006 the company launched an Initial Public Offering on the Alternative Investment Market and in 2008 it secured a full listing on the London Stock Exchange.
The company acquired Maritime Industrial Services, another maritime services business, for $336 million in July 2011 but was hit by a series of profit warnings in 2012 following a string of losses, delays and deferrals in individual projects.
Operations
The Company has facilities in the following locations: