Today we unveil our annual list of the Top 30 EPC Contractors. It is always an exciting occasion, but holds special significance in this historic, challenging year.
1. National Petroleum Construction Company (NPCC)
The National Petroleum Construction Company has rocketed to the top of our list this year thanks to a few changes in ownership. NPCC extended an offer to Abu Dhabi’s National Marine Dredging company in August, which would be a reverse takeover and give NPCC shareholders a 69.7% stake in the combined entity. Once merged, the company is expected to vand North Africa. NPCC was wholly acquired by ADQ earlier in the year, when it bought a final 30% stake from a minority shareholder.
In November 2019, NPCC revealed that it signed a $11 million investment partnership with Microsoft and AVEVA to boost its digitalisation efforts, enhancing internal and customer-facing systems. NPCC has established an in-house innovation team to spearhead the transformation, part of a five-year plan.
“The close links between digital and technology revolution have brought a new era of innovation to the energy sector, which has typically been static to changes,” said Eng. Ahmed Al Dhaheri, CEO of NPCC. “We are seizing the opportunity to be a digital-first entity through the digital transformation plan, which will enable us to offer cutting edge solutions to meet the diverse needs of our customers, which too are moving ahead in the digital curve.
2. Larsen & Toubro Hydrocarbon Engineering
India’s Larsen & Toubro Hydrocarbon Engineering stole headlines throughout 2019 for winning many huge contracts, including multiple from Saudi Aramco as part of its long term agreement. While the headlines may have slowed in 2020 thanks to the coronavirus pandemic, LTHE is a powerhouse in the region with a clear pipeline into future projects. LTHE is part of Saudi Aramco’s Long-Term Agreement (LTA) programme, which was created to support the oil giant’s offshore projects and cut down lead time for contractors within the agreement.
Once the storm has passed, we expect to see even more activity from the Indian contractor in the region.
Petrofac has made some welcome headlines through 2020, adding some positivity to the news mix. It partnered with Microsoft for an Internet of Things platform in February, the same month it won a $1.65 billion contract for ADNOC’s Dalma project, as well as a $40 million gas storage project from Sharjah National Oil Company. While projects have slowed down since then, it also secured a contract extension in Iraq with the nation’s Basra Oil Company for its long-standing Iraq Crude Oil Export Expansion Project. The facility handles approximately 50% of Iraq’s crude oil exports, and is located 60 kilometres offshore the Al Fao Peninsula in southern Iraq.
McDermott has retained a strong position on our list because of its transformation efforts, as well as its immense backlog of approximately $15 billion. Read our interview with McDermott’s EMEA senior vice president Tareq Kawash to learn more about its transformation and the state of the industry.
In the Middle East, Wood has worked with ExxonMobil and Basrah Gas Company. Wood supported the start-up and ongoing operation of Majnoon oilfield, which is estimated to hold 38bn barrels of oil.