$ 80 billion in engineering by 2020 worldwide

5/15/2019

Offshore new EPCI (Engineering, Supplies, Construction and Installation) contracts are expected to move approximately $ 80 billion between 2019 and 2020 worldwide, according to a Rystad Energy survey.

The Carcará, Lula and Atapu Norte projects in the Brazilian pre-salt are among the projects that will contribute to the increase in turnover in the next two years compared to the previous biennium.

Assets in Saudi Arabia (Berri, Zuluf expansion and Marjan), Qatar (North Field Expansion T8, T9, T10 and T11) in the United Arab Emirates (Hail & Ghasha and Upper Zakum) and Mauritania (Western Tortue) complete the major projects in period.

The listed ventures are potentially associated with 28 FPSOs and 90 fixed platforms.

Evolution of investments in the EPCI market.

According to Rystad, the growth rate expected for the EPCI market up to 2023 is 5% per annum, driven mainly by new greenfield projects. Operations in the Middle East and North America are expected to account for 21% of the global market – including land-based businesses – over the next five years.

With a 45% drop since 2014, the EPCI market is expected to stabilize this year, with a slight reduction in 2020, and then to resume recovery trajectory.

Source: Brazil Energy Magazine

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