Would you like to know more about the largest EPC companies in the world? Great! We are here to present you with Insider Monkey’s latest article on this topic. These companies are involved in the top turnkey projects worldwide. The largest EPC companies are responsible to bring engineering wonders and construction projects to reality. As matter of fact, they are engaged in construction services on contract basis, procurement, engineering, and contracts awarded for particular project work.
The EPC market in gas and oil is projected to increase at 6.5% between 2020 and 2027, and there are several giants in the market, such as South Korean giant Samsung Engineering and UK’s Petrofac. A fierce competition has started in the oil and gas sector for the past few years, mainly in the Middle East as contract awards are decreasing, while the giant players compete for the largest contracts.
And now let’s check out what you are here for: the largest EPC companies. We have picked up two companies from Insider Monkey’s list, as usual, giving you a short summarize. At first, on the fifth spot we can see Saipem with an outstanding revenue of $10,886 million, and having around 34,000 employees. Saipem is an Italy headquartered company and was reported to gain $2.9bn in contracts in Q1, 2019. As a matter of fact, it won two contracts which were worth $100 mn for offshore drilling work in Norway and three-year contract in the Middle East. Fluor (NYSE:FLR) stands on the third spot, with an amazing revenue of $14,348 million. The company has more than 53,000 employees and is located in the United States. It’s a construction and engineering company that is involved in procurement, construction (EPC), engineering, maintenance and project management services. The company’s chemicals and energy had a great loss of $95 million in the year of 2019, as opposed to a $335 million profit in 2018. Earlier Fluor had won the EPC contract for Halliburton’s Specialty Chemicals Manufacturing Reaction Plant in PlasChem Park, Jubail to produce a wide range of specialty chemical products. For further information, please jump to the list of the largest EPC companies in the world.