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Top 30 EPC Company in MENA
Top 30 EPC Company in MENA
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3. Saipem
4. MPCC
9. Foster Wheeler
5. Technip
6. Mott MacDonald
22. MIS
23. Bechtel
24. SK Engineering
25. Petrojet
26. JGC
27. Dealim
16.
1. Petrofac
EPC colossus continues regional domination after scooping big ticket Middle East contracts and a $3.4 billion mega-deal
in Turkmenistan
Last years table-toppers Petrofac stay at number one in this years Oil & Gas Middle East Top 25 EPC Contractors Special Report
on the back of $6 billion of new orders in 2010 in its Engineering & Construction business, including a company-record $3.4 billion
EPC contract in the Caspian.
Middle East contract wins have continued after a recession-bucking 2009. As part of an interview with Oil & Gas Middle East (see
page 24-25), Maroun Semaan, Group COO says the regional powerhouse predicts like-for-like net profit growth in 2011 of at
least 15%, despite the EPC contracting environment remaining highly competitive.
The firm also won a varied portfolio of work throughout the region this year, with seven major projects now underway.
In March, Petrofac bagged a $600 million contract for gas sweetening facilities at Qatar Petroleums Massaieed and
Dukhan industrial districts.
July and August saw two big wins in Kuwait: a $400 million contract for gas and oil pipelines from Mina Al Ahmadi to the Azzour
and Shuaiba power stations, and a $430 million award for effluent water and sea water injection facilities, which will increase
recovery in the Raudhatain and Sabriyah oil fields.
In Sharjah, Petrofac have been handed the keys to the Sajaa gas plant by the government in a $250 million operations
and facility management deal.
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The banner win for the year came in Turkmenistan, where under a $3.4 billion deal Petrofac will deliver a 10 billion cubic meters
per annum gas processing plant along with the infrastructure and pipelines for the entire development on a lump sum turnkey
(lstk) basis at South Yoloten for Turkmengas.
When complete, the South Yoloten field is expected to export 20 bcma of gas.
Semaan also said the business has been very active in Algeria, which paid off with the award of a $1.2 billion lstk contract to
develop southern fields in the In Salah development.
Petrofacs entry into Iraq has also been successful. The firm recently announced they beat the pack to win a competitive tender
of a $240 million deal from Shell for the development of the southern Majnoon field.
In Sharjah, Petrofac was awarded a project by the Government of Sharjah to take over the O&M of the Sajaa gas plant in a
$250 million deal.
2. Samsung Engineering
Saipem raked in $5 billion worth of KSA project work in 2010, as well as winning key partner status in the Shah
Field Development in Abu Dhbai
40 000-strong remote and deepwater specialist Saipem had another excellent year in key Middle East markets.
In March this year the firm was awarded new E&C Offshore contracts worth in excess of $2.2 billion by Saudi Aramco for work on
the giant Al Wasit Gas Program, encompassing the offshore development of the Arabiyah and Hasbah fields 150
kilometres northeast of Jubail industrial city.
The developed fields will contain 12 wellhead platforms, 2 tie-in platforms and 1 injection platform.
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In December Saipem scooped up two new onshore contracts with a total value in excess of US$1.2 billion in North
Kuwait. Kharafi National awarded Saipem the EPC contract for the Early Production Facility Project for the Jurassic field.
The contract encompasses the engineering, procurement, construction and commissioning of the Early Production
Facilities, which will have an oil and gas treatment capacity of 150.000 barrels per day in this first phase of development, and of
the gathering system and pipelines, next to a sulphur granulation plant.
4. NPCC
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6. Mott MacDonald
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US EPC giant Foster Wheeler is still living in the shadow of its 2009 results, posting first quarter earnings per share of $0.18 for
the first quarter of 2011 against $0.56 at the same time in 2010.
Interim CEO Umberto della Sala expects the comanys books for 2011 to show marked improvement over 2010 as revenues
from recent new orders come through. New contracts won in 2010 include two major projects in Iraq.
The first is a FEED contract for the new Nassiya refining plant in Southern Iraq for an undisclosed amount, with the
facility expected to process 300,000 barrels per day on completion.
The second is project management consultancy for Iraqs South Oil Company for the construction of two onshore and
offshore pipelines and a refining plant, which together are slated to increase Basras export capacity from its current output of
1.8 million barrels per day to 3.5 million barrels per day by 2014.
Other signs may be encouraging. New orders booked in the first quarter of 2010 were $562 million against $494 million at
the same time in 2009.
In Saudi Arabia, the company will expand Gulf Farabis linear alkyl benzene plant (LAB) at Al-Jubail under a $350 million contract.
The new plant will have a production capacity of 100,000 tonnes per annum of LAB.
The companys Houston operation won a project management consultancy contract from Carbon Holdings for a
petrochemical complex in Ain Sokhna, Egypt which on completion will process 1.35 million tons per year of polyethylene.
First quarter 2011 results show profits of $23 million against $72 million at the same time in 2010, and new orders for the quarter
down to $381 million from $418 million in Q1 2010.
This is evidence that, even for EPC giants like Foster Wheeler, large contracts are harder and taking longer to win. Sala
expects 2011 to be a transition year for the company.
10. Jacobs Engineering
Big in Borouge
The Italian conglomerate added three major projects to its portfolio in 2010. In July it won a contract from the state-backed
Kuwait National Petroleum Company for the construction of a LSTK Acid-Gas Removal Plant for an undisclosed amount.
Tecnimont also won two lump-sum turnkey contracts, the first as a $1.65 billion joint venture with Austrian firm Borealis for the
construction of the Borouge polyolefin plant for ADNOC, the second being a $400 million construction of a gas refinery at Mina AlAhmadi, slated to process up to 230 million cubic feet of gas per day.
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Marie Technimont continued to construct three polyolefins units under its $1.855 billion Borouge 2 expansion contract.
12. McDermott International
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Canadian multi-platform engineers SNC Lavalin posted revenue of $1.6 billion in the first quarter of 2011, a 25.1% increase in
profits over the previous year.
Lavalins backlog also looks healthy, with $9.4 billion on the books in March compared with $8.6 billion at the end of March 2010.
The firm has been selected, together with its local Saudi Arabian 50/50 joint venture partner, The Zuhair Fayez Partnership, by
Saudi Aramco, to perform general engineering and project management services (GES+) under a five-year reimbursable contract.
Under the contract, SNC-Lavalin and The Zuhair Fayez Partnership will perform front-end engineering and design and
select detailed engineering, as well as project management services to support the execution of Saudi Aramcos capital
programme.
In the summer of last year SNC-Lavalin was awarded an EPC contract by Jordan Phosphate Mines Co. (JPMC) to upgrade
and increase the capacity of two sulphuric acid plants in Aqaba, Jordan. SNC-Lavalins revenues from the project will be
approximately US$81 million.
Work has begun and the project is scheduled for completion in 18 months.
16. Topaz Energy & Marine
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18. Kentz
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Working on backlog
The third-largest privately-owned company in the USA moves down our rankings as upstream awards proved hard to come by in
2010-2011.
Despite this, Bechtel remains an EPC powerhouse with an impressive regional backlog, reporting $30.8 billion in revenue in 2010
and total new orders booked globally of $21.3 billion.
Bechtel has worked on various projects across the MIddle East for all the major NOCs. The firm completed its three major gas
processing projects in the region last year at Kursaniyah, KSA and the Hadshan and Asab plants in Abu Dhabi.
Bechtel is the project manager of the massive Borouge 3 petrochemical expansion project in Abu Dhabi. It will also work on the
region's first nuclear power plant.
24. SK Engineering
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Seoul-based SK Engineering which won several sizeable contracts in 2010 and early 2011.
In July the firm won a one of seven contracts given by Saudi Aramco at the Yanbu Export Refinery project, for the construction of
a crude unit.
The firm is working under a $427 million project at the 400,000 bpd export refinery facility in Jubail, Saudi Arabia, and the $9.6
billion expansion of the Ruwais refinery in Abu Dhabi, after which Takreer hopes to see its output more than double current
capacity of crude oil and condensate. SKs slice of the deal was valued at $2.12 billion.
In January Saudi Aramco selected SK for two of the four LSTK contracts on offer at the Wasit Gas Program onshore facilities.
The first is for the four huge sulfur recovery units (SRU) and utilities facilities at Wasit, which includes sulfur loading facilities, and
related electrical and control systems.
The second was for NGL fractionation, which includes NGL inlet facilities, NGL fractionation facilities, product treating and storage,
LT flare and control systems.
SK also won a $34 million contract for communications systems between oil refineries and petrochemical plants in the
Dukhan oilfield located 95 kilometres to the west of Doha in Qatar.
25. Petrojet
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Competing in Kuwait
Daelim is another South Korean contractor breaking into our roster this year on the back of strong performance by their
core Engineering & Construction and Petrochemical divisions.
The 72 year old firm has boosted staff numbers from 4,800 to c.6,000 in the last two years, with services covering gas, petroleum
refining, chemical and petrochemical, power and energy plants, building and housing, civil works, and industrial facilities. The firm
is also developing its value-added products business.
Daelim is South Koreas fifth-largest EPC contractor, and its increasing profile is the result of several major contract wins in 2010,
including two out of the seven contracts awarded by Saudi Aramco for the 400,000 barrel per day Yanbu Export Refinery.
Daelim are to build a gasoline unit and a hydrocracker at the mammoth plant for an undisclosed amount.
In September 2010 Daelim finally signed a long-awaited $893 million EPC contract with Kuwait National Petroleum Company
for the LPG TRAIN-4 Gas Pipeline Project at the Mina Al Ahmadi refinery complex south of Kuwait City.
In addition to the 850 million cubic feet per day gas pipeline, Daelim will build gas plants which are able to produce ethane,
propane and butane by treating about 805 MMSCFD gases and 106.3 MBPD condensates.
The Seoul-based company has not always got its way, losing out in January 2010 to Taiwanese firm CTCI for a major
amines plant for Saudi Kayan Petrochemical Co.
This was despite being the favorite to win the contract, having won the associated low density polyethylene project at the same
site. Nevertheless Daelim goes from strength to strength in the GCC.
28. Doosan Heavy Industries
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Qatars home-grown Black Cat Engineering and Construction (BCEC) goes from strength to strength, positioning itself to capture
much of the high-end EPC and subcontractor work in the Gulf state and beyond in the coming months and years.
The company has ambitions to expand its reach, including in the UAE and Iraq and is working on establishing itself as a skilled
engineering contractor in these markets.
BCEC has been involved with two on-going projects at Qatars Dukhan oil fields for Qatar Petroleum.
The company is supplying sweet fuel gas and producing water treatment and injection at degassing and PWI stations.
These projects will be completed in the first quarter of 2012.
One of the key attributes that distinguishes BCEC from other local players is Black Cats considerable in-house
engineering capability; With over 110 engineers of every discipline, BCEC has the ability to undertake complex projects in very
tight and challenging time scales.
BCEC has put in place its own type of work processes to handle the complex jobs they are undertaking, and the firm
sees potential for the way they do things.
The board of firms holding company, Qipco Holding, recognizes the tremendous potential for BCECs growth and backs the firms
wishes to expand their offering to markets further afield.
Participating in Qatars economic development is Black Cats core philosophy. Our driving principal is that Black Cats clients are
our long term business partners - they share our vision of supporting the phenomenal economic growth of the country, said
Adnan Al-Mubarak, general manager of Black Cat Engineering & Construction.
We have developed Black Cat Engineering into a dynamic, knowledge-based operation with the capabilities of training
and cultivating the human capital resources in Qatar. Our goal is to establish ourselves as an integral pillar in the transformation
of Qatar into a global energy hub he added.
30. Global Industries
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