Petrofac ranked second on Top 30 EPC Contractors 2019
The company earned second place on Oil & Gas Middle East's 2019 ranking of the Top EPC contractors
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.
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.
In March 2019, Petrofac was awarded a $1bn EPC contract with Groupment Isarene, a joint operating group set up by Sonatrach, Petroceltic and Enel, for the Ain Tsila Development Project in Algeria. Located around 1,100 kilometres south-east of Algiers, the Ain Tsila field will produce gas, LPG and condensate for the local Algerian market and for export.
The company also won a $115mn contract for Qarn Alam Co-Generation Projects, the latest in a series of awards for Petrofac in Oman under its 10-year framework agreement with Petroleum Development Oman. In Oman, Petrofac also hosts a training programme for graduate engineers to boost in-country value and prepare locals talent to join the workforce.