Who are the best EPC contractors in the Middle East?
Operators are cutting down capital spending budgets and there are fewer contracts in the pipeline. We have enlisted and ranked the 2019 list of Top 30 EPC Contractors primarily based on the value and volume of the projects that EPC companies have won in the Middle East region from the downstream industry.
Which is the biggest petrochemical project in China?
This project is the biggest ethylene integration project in the world, the biggest single contract in the global petrochemical field, as well as the biggest contract signed by Chinese enterprises so far, Dai Hegen, chairman of China National Chemical Engineering Group said when interviewed by China Central Television.
Why are EPC contractors important to oil and gas companies?
EPC contractors are shifting to adapt to an environment that requires they be more ambitious, and more versatile while maintaining the financial discipline to suit the changing needs of the region’s oil and gas companies.
What was largest petrochemical contract signed between China and Russia?
China National Chemical Engineering Group Corporation has signed an agreement worth around 12 billion euros ($13.25 billion) with Russia’s RusGasDobycha in Chengdu, Southwest China’s Sichuan province.
How are EPC contracts negotiated in a petrochemical project?
In petrochemical projects, the engineering, procurement and construction (EPC) contracts are often negotiated after the technology licenses have been negotiated between the technology licensors and the project owner. Both sets of agreements are also typically settled before financing is sought for the project.
Is the EPC contractor exposed to technology risk?
To the extent the EPC contractor does not assume all or any portion of the technology risk, the project owner (and by extension its lenders) will be exposed to technology risk to the extent that the project owner suffers damages in excess of the (typically low) liability caps contained in the technology license.
Which is the advanced petrochemical lets contract for Jubail?
Award of the PMC contract follows AGIC’s Mar. 27 signing of a shareholders agreement with SK Gas Co. Ltd. subsidiary SK Gas Petrochemical Pte. Ltd. (SKGP) to establish a joint venture named Advanced Polyolefins Co. (APC JV) for construction and operation of the proposed PDH-PP complex, according to a Mar. 29 release from APC.
Who is let contract for Jubail PDH-pp complex?
AGIC has let a contract to Fluor Corp. to provide project management consulting for the operator’s proposed propane dehydrogenation and polypropylene complex at APC’s existing operations in Jubail Industrial City, on Saudi Arabia’s eastern coast.