For the last few years, the competition among the major engineering, procurement and construction (EPC) companies related to the refining and petrochemicals manufacturing sector in the Middle East is at the top level since there are only limited number of large-scale projects in the region and all the major global players are there from around the world.
As a result of the rebalanced low oil prices, the downstream EPC companies in the region are facing project complexity, escalating costs and enhanced risk. The real challenge for these EPC companies operating in the region is the cost competition among themselves. Operators are cutting down capital spending budgets and there are fewer contracts in the pipeline.
We have enlisted and ranked the 2019 list of Top 30 EPC Contractors primarily based on the value and volume of the projects that EPC 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 2018 to 26 March 2019. We have also considered the ongoing projects won during 2016 and 2017 as well as prospects for the remaining part of 2019.
In many cases, the project costs are undisclosed in the region. In those cases, we have considered the impact of the project on the region’s industry, people and economy. We have also considered other factors like 2017 and 2018 revenues, projects completed earlier, CSR initiatives, compliance to ethical business practices, etc. The rankings in this year’s list have changed considerably, compared to the last year.
We take this opportunity to thank all those who have cooperated in providing data for compiling this list. Congratulations to all the organisations that have been included in this year’s list!
Please have a look at the complete list of 2019 RPME Top 30 EPC Contractors.
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