No.26: Amec Foster Wheeler EPC Contractor
Amec Foster Wheeler EPC Contractor’s most significant contract award in the region is for the Ras Markaz Crude Oil Park project in the Sultanate of Oman. The contract was awarded by Oman Tank Terminal Company (OTTCO) and covers the front-end engineering design (FEED)part of the project.
In November last year UK-based engineering and construction group Amec EPC Contractor completed a reputed $3.2bn deal to take over Foster Wheeler and form Amec Foster Wheeler.
The EPC Contractor Company’s net profit before tax in 2014 stood at $241mn, while cash flow from operations was slightly higher – at $311mn.
Foster Wheeler EPC Contractor signalled its intent at the start of 2014, when it secured contracts from Saudi Aramco’s S-Oil for the front-end engineering design (FEED) for a residue upgrading project at S-Oil’s Onsan refinery in Ulsan, South Korea.
In September 2014, Global Power Group, a Foster Wheeler EPC Contractor subsidiary, was awarded two contracts for the design and supply of five steam condensers and 30 feed-water heaters for Saline Water Conversion Corporation’s (SWCC) Yanbu Power and Desalination Plant, Phase 3, located in Saudi Arabia.
The value of Amec’s takeover of Foster Wheeler EPC Contractor was $3.2bn.
No.27: Lamprell EPC Contractor
Lamprell EPC Contractor recently announced a $365mn contract award from National Drilling Company (NDC) in Abu Dhabi for the construction and delivery of two further high specification jack-up drilling rigs of a Super 116E (Enhanced) Class.
The award came on the back of a successful delivery and completion of jackup drilling rig, Butinah, to NDC in Q1, 2015.
In February, the UAE-based ship builder completed and delivered jack-up rig ‘Jindal Pioneer’ to Singapore- based Dev Drilling Pte. on time and within budget, after winning the contract in January 2013.
It also added a second new build to one of its clients’ fleet in the Caspian Sea and announced yet another successful completion and delivery to Greatship Global Energy Services, conducted within budget and ahead of schedule.
Lamprell EPC Contractor said the rig will join its sister vessel, the ‘Greatdrill Chaaya’ which left its shipyard in January 2013 with both rigs contracted to work for Oil and Natural Gas Corporation Limited (ONGC) offshore the territorial waters of India.
The contract value awarded to Lamprell EPC Contractor from National Drilling Company was about $365mn.
No.28: CH2M Hill EPC Contractor
CH2M Hill EPC Contractor contribution to developing the Abu Dhabi Shah Field cannot be overstated. The company was awarded a project management contract for the Shah Gas Development project in 2010 and since then has provided consulting services on six out of nine EPC packages including early works, product pipelines, the gas gathering system and the liquid sulphur handling system.
Working closely with Al Hosn Gas, the field’s main operator and teams from around the world, CH2M EPC Contractor helped set a new global standard for sour gas processing. It also delivered the EPC packages safely, on time and on budget.
“We successfully managed this programme of massive scale and complexity by pulling together resources from across the globe, ensuring the Shah Gas Development had the right people in place to tackle such a major undertaking,” the company said. The Shah Field came online in January 2015 and is expected to reach full capacity in the second quarter.
The year when Abu Dhabi’s Shah Sour Gas Field came online was 2015.
No.29: Leighton Offshore EPC Contractor
Leighton EPC Contractor Ofshore recently said it was awarded additional work for the Shell Bukom Refinery Modifications Project in Singapore valued at $34mn, increasing its part of the contract to $77mn and the overall project value to $110mn.
Further contract awards in South-East Asia include a major pipeline transportation and installation contract in Indonesia.
Despite no project wins in the Middle East over the past twelve months, Leighton EPC Contractor boasts an extensive protfolio of work for some of the main oil operators from around the region.
In 2013, the EPC Contractor Company secured a key contract for the replacement of floating hoses on Qatargas Single Point Mooring (SPM) system.
Later in the year, the world’s largest LNG producer awarded it a second contract for another floating hose replacement as well as installation and pressure testing of new hose strings and replacement. Leighton EPC Contractor was also charged with replacing the complete subsea hose system on the Qatargas SPM No 1 Buoy.
While most EPC contractors had a nail-biting first quarter, Leighton EPC Contractor Holdings, the mother company of Leighton EPC Contractor Offshore and Australia’s biggest construction group, said it is expecting $520mn full-year net profit after tax, following significant improvements in the group’s Q1 profit margins.
The total value of Leighton’s contract award for the Shell Bukom project in Singapore was $77mn.
No.30: Wood Group EPC Contractor
The latest news from Wood Group EPC Contractor is that the company is confident it will meet its full-year earnings forecasts. In a trading update ahead of its annual meeting, the Aberdeen-based group noted that while market conditions “remain challenging”, it will focus on cutting costs by $30mn in 2015.
The EPC Contractor firm was also eager to stress its commitment to the Middle East region, despite no major contract awards in the first quarter.
Dave Buchan, managing director, Middle East, Europe, Russia and Caspian, said: “Whatever way you look at the energy market, the Middle East will be a dominant region in the years ahead and we’re honoured to have the opportunity to be here.”
On the deep water drilling front, the group scored another significant contract win. Its joint venture with Massy Holdings bagged a new five-year contract with BP with an estimated value of up to $250mn to provide services and support to its operations in Trinidad & Tobago.
The contract value of Wood Group EPC Contractor’s most recent contract with BP was $250mn.