Oil & Gas EPC Market Growth Opportunities Analysis Report 2027

𝐎𝐢𝐥 & 𝐆𝐚𝐬 𝐄𝐏𝐂 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

The global oil & gas EPC market was valued at US$ 40.8 Bn in 2018 and is expected to expand at a CAGR of ~5% during the forecast period. Based on sector, the upstream segment held dominant share of the global oil & gas EPC market in 2018. Increase in investments in development of subsea projects is anticipated to boost the segment during the forecast period. In terms of service, the construction segment accounted for major share of the global oil & gas EPC market in 2018. Rise in trend toward development of more complex fields is anticipated to augment the segment in the near future. Construction engineers assist E&P companies to evaluate the structural, electrical, and mechanical condition of a project. The oil & gas EPC market in Asia Pacific is likely to expand at a significant pace during the forecast period, owing to the growth in investments in the construction of pipeline infrastructure in the region.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 - https://www.transparencymarketresearch.com/oil-gas-epc-market.html

𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐨𝐟 𝐎𝐢𝐥 & 𝐆𝐚𝐬 𝐄𝐏𝐂 𝐌𝐚𝐫𝐤𝐞𝐭

Of late, the oil & gas EPC market has been expanding due to the increase in efforts in exploration of new oil and gas discoveries . Several countries across the globe are making investments to explore new oilfield reserves, particularly in the Persian Gulf, Gulf of Mexico, North Sea and , South China Sea, in order to cater to the rising demand for oil and gas. About 140 discoveries of new oilfield reserves were made across the globe in 2018. The total discovered resources stood at around 9 giga barrels of oil equivalent in 2018. Offshore discoveries held 60% share, while gas resources accounted for about 40% share. These discoveries are expected to boost the development of wells and oil & gas production in the near future. Thus, increase in discovery of oil & gas reserves is estimated to drive the oil & gas EPC market during the forecast period.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐃𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐬 𝐎𝐢𝐥 & 𝐆𝐚𝐬 𝐄𝐏𝐂 𝐌𝐚𝐫𝐤𝐞𝐭

North America dominated the global oil & gas EPC market in 2018, due to the increase in number of oil & gas projects in Canada and the U.S. The U.S. held major share of oil & gas EPC market in North America in 2018. Abundant availability of oil and gas reserves in the U.S. and Canada has encouraged E&P companies to invest in North America. This has boosted the oil & gas EPC market in the region. For instance, Ohio's shale energy sector attracted investment worth US$ 78 Bn between 2011 and Q2 of 2018. Technological innovation in hydraulic fracturing and low breakeven prices have also supported upstream oil and gas activities in onshore regions, resulting in high demand for oil & gas EPC activities.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=67691

𝐌𝐚𝐣𝐨𝐫 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐎𝐢𝐥 & 𝐆𝐚𝐬 𝐄𝐏𝐂 𝐌𝐚𝐫𝐤𝐞𝐭

In February 2019, TechnipFMC, a U.K.-based oil & gas EPC company, signed an EPC contract with ExxonMobil for Beaumont Refinery expansion project in Texas, the U.S. The contract value of the project ranges between US$ 500 Mn to US$ 1 Bn. The project covers installation of diesel hydrotreater, benzene recovery, and kerosene hydrotreater unit.
In November 2018, Bonatti, an Italy-based oil & gas EPC firm, won an EPC contract worth US$ 94.31 Mn from Pertamina Algeria EP for Menzel Lejmat Nord field's gas capacity increase project. The scope of the project includes the development and upgrade of the existing facility by installation of a dehydration train and new 2 x 37.5 MMscfd compressors.
In July 2018, Abu Dhabi's National Petroleum Construction Company won an EPC contract for the full development of the offshore Bu Haseer field from ADNOC.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=67691

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐨𝐟 𝐎𝐢𝐥 & 𝐆𝐚𝐬 𝐄𝐏𝐂 𝐌𝐚𝐫𝐤𝐞𝐭

The global oil & gas EPC market is consolidated, with large players accounting for majority of the share of the market. Key players operating in the global oil & gas EPC market are TechnipFMC, Plc., WorleyParsons Limited, Saipem SpA, Petrofac Limited, Bechtel Corporation, Mott MacDonald, Fluor Corporation, L&T Hydrocarbon Engineering, John Wood Group PLC, National Petroleum Construction Company, SNC-Lavalin Group, KBR, Inc., Galfar Engineering and Contracting SAOG, and Lamprell.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=67691

Market players adopt various strategies such as mergers & acquisitions, investments in new projects, and technological innovations in order to boost their share in the global oil & gas EPC market.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

𝐁𝐢𝐨𝐟𝐮𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.prnewswire.com/news-releases/biofuel-market-to-gain-value-of-us-331-81-bn-by-2031-tmr-study-301669959.html

𝐏𝐨𝐰𝐞𝐫 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.accesswire.com/723256/Asia-and-Australia-Power-Distribution-Component-Market-Size-to-Attain-Valuation-of-US-6-Bn-by-2030-TMR-Study

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Nikhil Sawlani
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