SHARJAH, UAE – Lamprell has issued a progress report on its offshore fabrication programs.
During the second half of last year the company delivered three rigs on schedule, with a further three currently under construction in the company’sHamriyah yard. All should be completed by mid-year.
In response to continuing market pressures, the company has undertaken a further 20% reduction in its administrative staff headcount, including some redundancies at senior management level.
As various large projects have progressed to delivery or the final stages of construction, the company has also released the related yard workforce, trimming its overall staff numbers to around 4,000.
Last year brought lower levels of “walk-in” work than in 2015. Most of the rigs stacked in Lamprell’s facilities throughout the year remained inactive, generating only limited refurbishment revenue.
However, the company’s clients have fixed their capital budgets for 2017, with little flexibility for expansion of associated expenditures. Lamprell therefore expects caution to prevail in the industry this year.