UAE-based fabricator Lamprell has entered into exclusive negotiations as preferred supplier with an unnamed client in the offshore wind industry for what the company said is a “very large contract”.
The signing of preferred supplier exclusivity is a significant milestone in the contract process albeit it is not a guarantee of contract, it said.
Lamprell will now work with the client to confirm the terms of a reservation agreement that will secure capacity at its Hamriyah yard for the work as negotiations proceed towards contract award.
The company will provide further details of the project in the event of successful conclusion of negotiations.
Lamprell chief executive Christopher McDonald said: “We have seen a ramp up in bidding activity from Q4 2021 and we are currently in advanced stages of tendering with several potential clients across the globe, driven by the increased demand in both of our end markets of renewables and oil & gas.
“An emerging trend particularly in renewables sector is the introduction of reservation agreements to secure fabrication yard capacity for projects up to a year in advance.
“We view these agreements as a very positive sign of forward planning and addressing limited capacity in the industry.”