Top 30 EPC Contractors of 2019 revealed
Oil & Gas MIddle East rounded up the top EPC contractors from 2019 in a list showcasing the very best of the industry
The oil and gas sector has seen some drastic changes in the past year, and so have engineering, procurement and construction (EPC) contractors followed suit to cater to an ever-changing industry. As the region’s national oil companies have moved to integrate vertically and boost their downstream portfolios, so, too have EPC contractors.
Last year’s issue featuring the 2018 edition of this list also featured an interview with McDermott CEO David Dickson, who talked about the firm’s then-recent merger with CB&I. Another example, WorleyParsons acquired Jacobs Engineering’s energy, chemicals and resources division earlier this year.
EPC contractors are shifting to adapt to an environment that requires they be more ambitious, and more versatile, while maintaining financial discipline to suit the changing needs of the region’s oil and gas companies.
Some of the region’s major deals this year have been in the downstream segment, but upstream has seen an incredible amount of traction as well, with giants like Saudi Aramco looking to invest billions of dollars into redeveloping ageing assets. Its Long-Term Agreement programme has kept some EPC companies busy and their project pipelines full.
There are some surprise movers among the list, but the top tier has kept many familiar faces among its ranks, all of whom will be recognisable from headlines announcing their major wins in the past year. Those that rose up have generally seen more activity or investment in the region.