Leading Oil and Gas EPC Companies 2023: Expert Solutions for Energy Projects

 Oil and gas, engineering, procurement, and construction (EPC) represents a contract-based model that delivers a package of resources to complete infrastructure projects. The contractor usually carries out detailed layouts and designing, onsite assembly, functional testing, procurement of equipment material, manufacturing of systems, etc. The oil and gas industry relies on EPC contractors for large-scale and long-term projects that require skilled professional labor and fine-tuned project management. It provides flexibility, enhanced performance, cost-effectiveness, a single point of responsibility, etc. Oil and gas EPC is extensively utilized to design plans for power generation environmental controls, aboveground storage tanks, natural gas processing facilities, industrial power distribution, material handling, etc. It establishes a communication channel that enables the owners to manage all the relationships and infrastructure projects.

The global oil and gas EPC market size reached US$ 47.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 65.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

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The growing exploration activities of both the non-conventional and conventional energy resources are primarily driving the oil and gas EPC market. Additionally, the launch of favorable policies by government bodies to generate electricity from renewable resources is further bolstering the market growth. Besides this, the widespread adoption of EPC for project execution and designing, such as building storage systems, drilling platforms, and advanced systems for exploration, is acting as another significant growth-inducing factor. Moreover, the escalating demand for oil and gas EPC in the upstream sector, as it offers more accessibility to sites, fewer complexities, lower investment requirement, and lower risk, is positively influencing the global market. Apart from this, the rising usage of petroleum products, such as petrol, diesel, and CNG, is also propelling the market growth. Furthermore, the introduction of Artificial Intelligence (AI) and the Internet of Things (IoT)-based maintenance and monitoring systems is projected to fuel the oil and gas EPC market in the coming years.

Some of the Top Oil and Gas EPC Companies in the World :
  • Bechtel Corporation 
  • Fluor Corporation
  • Hyundai Heavy Industries Co. Ltd.
  • John Wood Group PLC
  • KBR Inc.
  • Larsen & Toubro Limited
  • McDermott International Ltd.
  • National Petroleum Construction Company
  • Petrofac Limited
  • Saipem S.p.A. (Eni S.p.A.) 
  • Samsung Engineering Co. Ltd.
  • TechnipFMC plc
  • Técnicas Reunidas S. A.
  • WorleyParsons Limited
Explore Complete Blog by IMARC Group: https://www.imarcgroup.com/oil-and-gas-epc-companies

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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