Top EPC Contractors of 2015: No.21-25


No.21: JGC EPC Contractor Group


One of JGC EPC Contractor’s major contract awards in the Middle East is the LSTK deal it signed with Saudi Aramco for the engineering, procurement and construction (EPC) services associated with the $7bn Jazan Refinery and Terminal in Saudi Arabia.


Jazan Refinery and Terminal, in the south-east area of the country, is expected to have 400,000 barrels per day capacity and is scheduled for completion in 2016.


Japan’s JGC EPC Contractor was among seven international firms selected by the Iraqi government to bid for the development of the Nassiriya oilfield and the construction of a refinery earlier this year.


JGC EPC Contractor’s other flagship project in the region is Qatar’s Barzan Gas Project. JGC EPC Contractor is responsible for the onshore packages being built north east of Ras Laffan. Barzan Train 1 will come on stream in 2014, with Train 2 following in 2015.


JGC EPC Contractor leads a consortium of Asian firms awarded a $4.8bn EPC deal for Kuwait’s Mina Al-Ahmadi refinery.


The value of the EPC deal awarded to JGC EPC Contractor for Kuwait’s Mina Al-Ahmadi refinery was $4.8bn.

No.22: Galfar EPC Contractor


Founded in 1988, the EPC Contractor's oil and gas unit has 5,800 employees and, with a $440m turnover, is the largest in the organisation.


Last month the EPC Contractor Company announced it had won a $110mn contract to build and install a gas gathering system at the Khazzan Gas project in Oman.


This was the second contract that Galfar EPC Contractor was awarded at the project – in March, the EPC Contractor Company also won a $10mn deal to install new power lines from a nearby substation owned by the state-owned Petroleum Development Oman (PDO). In May, the EPC Contractor Firm announced a $56mn deal to clear the site of the Duqm refinery.


Other projects include Marmul A Station upgrade, a compressor station at Nimr, site construction services at Wadi Musallim and Qarn Alam Steam, and 150km Hubara-Saih Rawl 13kV overhead line.


Galfar EPC Contractor has previously undertaken several large scale projects for PDO, which value in the range of $200mn to $370mn. Some of note are the 5-year Off-Plot Delivery Contract, Kauther Gas Plant & Associated Facilitiesand and the LNG Upstream Central Processing Unit in the Sultanate.

The contract value awarded to Galfar EPC Contractor for the Khazzan Gas project in Oman was $110mn.

No.23: SNC-Lavalin EPC Contractor


SNC-Lavalin EPC Contractor Group reported a 10% increase in its first-quarter profit, defying analysts’ forecasts of insignificant or no growth due to lower oil prices. The EPC Contractor Company’s net income rose to $86.5mn, while revenue jumped 31%.


The EPC Contractor also announced two contract awards in the Middle East from an unnamed oil company with an anticipated combined value of over $500mn.


In a bold step showing an ever-increasing appetite to expand its market share, the Canadian EPC Contractor acquired oil and gas specialist Kentz for $2.1bn.


The EPC Contractor Company said its buy-out of Kentz has “transformed” its capability in oil and gas, allowing it to undertake and complete large, complex projects.


“Both Kentz and SNC-Lavalin EPC Contractor have excellent longstanding relationships with this client in the Middle East and we are pleased to have the opportunity to strengthen those links further by delivering on this important project,” said Neil Bruce, president of SNC-Lavalin EPC Contractor’s resources, environment & water division.


Since the acquisition, SNC-Lavalin EPC Contractor has signed over $1bn worth of new contracts in the Middle East alone, according to Bruce. The engineering and construction group recently won contracts valued at $71mn to build two district cooling plants in Saudi Arabia. The contracts were awarded by the Saudi Dahran Cooling Company and the Central District Cooling Company.

The value of SNC-Lavalin EPC Contractor’s acquisition of engineering and construction firm Kentz was $2.1bn.

No.24: Daewoo Shipbuilding & Marine EPC Contractor


Daewoo Shipbuilding & Marine Engineering EPC Contractor was awarded part of a $2.6bn investment by Maersk Drilling to build and deliver a jack-up rig. The rig is currently under construction in Daewoo EPC Contractor’s shipyard in South Korea and is due for delivery in 2016. The new build will represent the fourth in a series of ultra-harsh environment jack-ups at Maersk’s drilling fleet, with the latest addition delivered in 2014 and hailed “the world’s largest”.


In February last year, the South Korean EPC Contractor shipbuilder signed a letter of intent to build eight very large gas carriers (VLGC) with shipping outfit China Peace.


At the end of 2014 Daewoo Shipbuilding and Marine Engineering EPC Contractor awarded Italian contractor Saipem a $1bn pipeline construction contract in the Caspian region.

The contract value awarded for the pipeline construction project in the Caspian region was $1bn.

No.25: Topaz Engineering EPC Contractor


Topaz Marine EPC Contractor, the sister company of Topaz Engineering EPC Contractor, secured a major term contract in 2011 with Saudi Aramco for six of its K-Class vessels and recently established a local office in Saudi Arabia.


“Our local presence in UAE, Qatar and Saudi reflects Topaz EPC Contractor’s strategy of being closer to its customers,” the EPC Contractor company said.

Topaz Energy and Marine EPC Contractor, the mother company of Topaz Engineering EPC Contractor, reported a 2014 revenue increase of 7% to $404.6mn. The EPC Contractor Company recently secured a $550mn loan, which will significantly lower the EPC Contractor's cost and will be used to repay its debt and fund capital expenditure.


Rene Kofod-Olsen, CEO, Topaz Energy and Marine EPC Contractor, commented: “Topaz EPC Contractor has a clear strategy of harnessing the long-term growth opportunity of the Offshore Support Vessel market. A fundamental part of that strategy is ensuring we have the right capital structure to provide the financing to fund our plans.”

The total revenue of Topaz Energy and Marine EPC Contractor for 2014 was $404.6mn.