The engineering, procurement and construction (EPC) companies related to the downstream oil and gas sector in the Middle East are in the midst of project complexity, escalating costs and enhanced risk, mostly as a result of low oil and natural gas prices.
The competition among the major EPC companies in the region is at the highest level as of now because of the operating companies cutting down capital spending budgets and with fewer contracts in the pipelines.
When we consider the EPC companies operating in the Middle East, the real challenge is the cost competition since there are only limited numbers of large-scale projects in the region and all the major global players are there from around the world.
We have enlisted and ranked this year’s list of Top 30 EPC Contractors primarily based on the value and volume of the projects these companies have won in the Middle East region from the downstream industry. We have considered all the relevant projects awarded during the period from 1 January 2016 to 20 August 2017.
There are many occasions when the cost of a project is undisclosed. We have also considered other factors like 2016 revenues, projects completed in the past, CSR activities, etc. As you can see from the following pages, there are a number of new entries to the list, while some companies from the 2016 list have moved out.
The rankings have also changed notably because of the focus on the value and volume of the projects won as well as the decision to consider only the downstream projects from the Middle East region. We take this opportunity to thank all those who have cooperated in providing data for compiling this list. Congratulations to all the companies that have been profiled in this year’s list!