Dear Colleagues,
As we continue to manoeuvre through 2024, I want to update you on the various activities and accomplishments that continue to shape Lamprell. In the second quarter, we achieved significant milestones with the completion and delivery of two major projects: Moray West from our offshore wind business unit and Kingdom 2 from our oil & gas business unit.
Moray West was delivered with no lost time incidents, within budget and on schedule. Following the delivery of the jackup drilling rigs Kingdom 1 and Kingdom 2, we successfully completed 15.3 million manhours across both rigs, maintaining an exemplary safety record.
As you are aware, the Moray West and Kingdom 2 projects are very different in terms of the respective industry sectors, scope and customers. However, they share similar themes. Both projects came with unique challenges that our people confronted and overcame. In the face of these challenges, our people have been resilient and relentless in the pursuit of excellence and delivery to our clients. The HSE achievements are nothing short of outstanding, and we should all be immensely proud to have delivered these projects safely.
Our Hamriyah yard remains our hub for activity, with ongoing wellhead and jacket work for several EPCI projects. Notably, one of these projects recently celebrated reaching 3 million manhours, recordable incident-free. In addition, rig refurbishment and land rig services achieved a TRIR of zero for the first half of 2024, yet another outstanding achievement that further showcases our commitment to world-class safety standards. Safety is a core value of our company, and these results demonstrate this commitment.
June saw me and the business development team attending the Global Offshore Wind Conference in the UK. This was a fantastic opportunity to engage with major clients in the renewables sector, peers, and the supplier community. Our discussions with Ocean Winds were particularly gratifying; they expressed high praise for our performance on the Moray West project. The positive reception from other potential clients was also evident, further enhancing our reputation and opening doors for future offshore wind opportunities.
Meanwhile, in oil & gas, as mentioned in last quarter’s edition, we remain optimistic about the future and expect favourable developments despite the uncertainties highlighted by Aramco’s strategic adjustments. The medium to long-term fundamentals remain positive, and we look forward to continued growth for our company in this sector.
Internally, we have wrapped up our performance appraisal process, are actioning the outcomes from our recent communications survey and are currently updating our strategy to ensure our approach remains aligned with the previously established goals. Furthermore, with substantial employee involvement, we are refreshing our company’s purpose, vision, and values, ensuring that our principles reflect our collective aspirations and current industry dynamics. I will share further updates in the next edition of Lamprelltimes.
A big thank you to all our employees for your continued efforts and commitment. Together, we are achieving our goals and objectives, and paving the way for future successes.
Best regards,
Ian Prescott
Lamprell CEO