meed-logo

line1 line2 line3
SIGN IN / REGISTER

Technip Energies leapfrogs the field

23 November 2023

 

There has been a surge in market activity for the oil, gas and petrochemicals sector in the Middle East and North Africa (Mena) over the past year, with engineering, procurement and construction (EPC) contractors securing $77.6bn-worth of deals between October 2022 and September 2023.

This pace of contract award activity represents a more than doubling of the $37.6bn in awards that were let in the preceding four quarters. It is also reflected in a swelling of the award value that was booked by the top 10 most successful contractors during the period. 

These companies secured contract awards totalling $47.2bn in the past four quarters – also more than double the $21.4bn secured by the top 10 contractors by contract value in the period prior. 

This surge in activity has also resulted in a significant amount of reshuffling of the regional leaders in terms of recently awarded contract values.

Regional leaders

Topping the ranking is France’s Technip Energies, which clinched pole position with a contract value of $7.6bn over the past four quarters – made up principally by its 70 per cent share in the $10bn contract to deliver two new liquefied natural gas (LNG) trains as part of QatarEnergy’s North Field South expansion programme. This was the second-largest single contract in the Mena oil and gas industry to date. 

The remarkable win is a huge boost for the French company, which in the preceding period sat in only 10th place, with awards totalling $922m. 

France’s Technip Energies clinched the top position with a contract value of $7.6bn over the past four quarters

Second in this year’s ranking is Hyundai Engineering & Construction from South Korea, with $7.4bn in contract awards, having risen from sixth position the preceding year with just $1.4bn in awards. The firm notably secured two packages worth $2.5bn each from Satorp – the joint venture of Saudi Aramco and TotalEnergies – for the development of the Amiral complex in Jubail. 

Hyundai E&C also secured a $2.4bn contract with Saudi Aramco for the phase two, package two utilities and off-site facilities at the Jafurah unconventional gas field in the kingdom’s Eastern Province.

India’s Larsen & Toubro Energy Hydrocarbon (LTEH) has maintained a consistent foothold in the ranking, retaining the third spot for the second year running. It did so with a significantly elevated contract award value, however, at $6.9bn over the past four quarters, as compared to $2.4bn in the preceding period. 

LTEH bookings included two more contracts as part of phase two of Aramco’s development of its Jafurah unconventional gas field –  a $2.9bn contract for package one, a gas treatment facility, and a $1bn contract for package three, a gas compression plant. LTEH also secured a $1.2bn deal in Algeria for a hydrocracking unit as part of Sonatrach’s Skikda refinery expansion.

Italy’s Saipem has climbed to fourth place with $6.1bn of awards, where previously it came in seventh place with $1.3bn in awards. Its major contracts included the $4.5bn contract for phase two, scope B of the QatarEnergy LNG North Field Production Sustainability programme, and a $1bn contract for the Bouri gas utilisation project with Libya’s Mellitah Oil & Gas Company.

Spain’s Tecnicas Reunidas follows in fifth place, with contracts valued at $5.6bn, rising from ninth place in the previous period, when it secured $1.1bn in awards. The major contract wins in the current period included the $3.6bn contract for Abu Dhabi National Oil Company’s (Adnoc) Maximising Ethane Recovery and Monetisation (Meram) project in a 50:50 joint venture with the local NMDC Energy, formerly National Petroleum Construction Company. 

Tecnicas Reunidas also secured two contracts with Aramco for work on the Riyas natural gas liquids fractionation plant, which is part of the second expansion phase of Jafurah: a $2.2bn award for package two and a $1bn award for package one.

Rounding out the top 10

Italy’s Maire Tecnimont claims sixth place with contracts totalling $3.6bn, maintaining its presence in the top ranks with an increased award value, but still down from third position in the previous period, when the firm secured contracts worth $2.6bn. 

The contractor’s wins included a $1.3bn deal from a joint venture of QatarEnergy and US firm Chevron Phillips Chemical for the Ras Laffan petrochemicals project and several packages within Satorp’s Amiral complex, totalling $1.92bn. It also secured a $380m contract with Sonatrach for a liquefied petroleum gas extraction plant in Rhourde el-Bagel.

Lebanon’s Consolidated Contractors Company has meanwhile secured the seventh position with contracts valued at $3bn. This was led by its 30 per cent share of the $10bn contract for the QatarEnergy LNG North Field South development and a $400m deal for pipelines as part of Satorp’s Amiral project package 5B.

NMDC Energy has landed in eighth position with contracts worth just under $3bn. Its wins included a 50 per cent share of the $3.6bn contract for Adnoc’s Meram project, working alongside Tecnicas Reunidas, as well as a $614m contract for a pipeline as part of Adnoc’s Estidama project and a $600m contract from Saudi Aramco to lay a pipeline from Zuluf to Safaniya. 

The contractor’s position is nevertheless down from last year, when it ranked first with $4.9bn-worth of awards.

China Petroleum Engineering & Construction Corporation secured contracts totalling $2.4bn, earning it ninth place in this year’s ranking. Its wins included a $500m contract for Basra Oil Company’s West Qurna-1 oil field development and a $386m contract for Basra Energy Company’s Mishrif Qurainat oil field development.

UK-based Petrofac rounds off the top 10 with contracts valued at $1.7bn. Wins included a $1bn share of the $1.5bn contract for the Sonatrach Total Entreprise Polymeres joint venture’s propane dehydrogenation polypropylene plant in Arzew, Algeria, and a $700m award for a compressor plant at Habshan as part of Adnoc’s Estidama programme.

Several contractors that were present in last year’s ranking are noticeably absent from this year’s list. These include Japan’s JGC Corporation, which secured no new contracts in the period after posting in second place last year with $4bn in awards. 

US firm McDermott secured $1bn in contract awards this year after placing fourth in the ranking last year with $2.6bn in awards. South Korea’s Samsung Engineering meanwhile secured $1.3bn in awards, slightly up from $1.2bn in the previous period, but not enough to remain in the ranking this year.

Sector and country breakdown

The gas sector emerged as the most lucrative sector in the past four quarters, representing contract awards totalling $33.3bn. This was followed by the chemicals sector, which saw $23.3bn in contract awards, and the oil sector, which recorded $21bn.

In terms of the country of origin for contract awards over the past four quarters, Saudi Arabia led the way, representing awards totalling $23.4bn. This was followed closely by Qatar, with awards worth $20.6bn. 

Iran also witnessed contracts totalling $11.2bn, but this was split between several local contractors in such a way that it prevented any individual EPC contractor from making its mark at a regional level.

The UAE oil, gas and chemicals market meanwhile recorded $9.2bn in contract awards, with several contracts from Adnoc playing a key role in this year’s ranking. 

Algeria, Jordan and Iraq saw total contract awards values of $3.3bn, $3bn and $2.9bn, respectively. Other countries in the region accounted for a further $4bn-worth of EPC contract awards.

https://image.digitalinsightresearch.in/uploads/NewsArticle/11318386/main.gif
John Bambridge

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • EtihadWE tenders $150m Ajman substation project

    21 July 2026

    The UAE’s Etihad Water & Electricity (EtihadWE) has tendered a contract to build three new substations in Ajman.

    Estimated to cost $150m, the project involves the construction of three new 132/11kV substations in the Bahya, Rumaila and Liwara districts. It also includes associated 132kV underground cabling works to connect the substations to the existing transmission network.

    The bid submission deadline is 10 August.

    According to tender documents, the project will add distribution capacity to support load growth and improve the security of electricity supply in the emirate.

    The scope of work includes site preparation, construction of three substation buildings and foundations, installation of 132kV GIS/AIS switchgear, 132/11kV power transformers and 11kV switchgear, as well as protection, control, Scada and telecommunications systems.

    Etihad WE is responsible for electricity and water services in Ajman, Umm Al-Quwain, Ras Al-Khaimah, Fujairah and parts of Sharjah. The utility has been investing in new substations and transmission infrastructure as electricity demand continues to increase across the Northern Emirates.

    This includes a 132/33/11kV substation project on Al-Marjan Island in Ras Al-Khaimah. Construction work is ongoing on the project, with Maetal Dubai serving as the main contractor.

    EtihadWE is also finalising a new masterplan that will cover network capacity requirements and expansion priorities for the next 10 to 15 years.

    In June, Abdulla Al-Khemeiri, chief operations officer, told MEED: “We are currently reviewing it, and we need to obtain shareholder approval first. Once it is approved, it will be released, hopefully by the end of the year.” 

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17710661/main.jpg
    Mark Dowdall
  • Seven seeks contractors for Dammam water park and hotel

    21 July 2026

     

    Saudi Entertainment Ventures (Seven), a wholly owned subsidiary of the Public Investment Fund, is preparing to shortlist general contractors for the main construction package of its Dammam Water Park & Hotel project in the Al-Hamra district.

    The waterfront development sits on a 324,300-square-metre (sq m) plot.

    A notice was issued to contractors in July, and the client is expected to finalise the shortlist by the end of this month.

    Seven is seeking firms capable of delivering a lump-sum, turnkey solution for both the water park and a 321-key lifestyle hotel. Construction is expected to take 24 months from contract award.

    The water park is designed around five themed zones and will feature what is billed as the world’s first double-tornado/triple-wave waterslide.

    The park will include 21 major rides and attractions, 21 food and beverage outlets, 66 cabanas, parking for 1,100 vehicles and a daily peak capacity of 4,500 guests.

    Slide procurement has already been completed directly by Seven. The selected contractor will be responsible for locally sourcing slide towers, integrating them with rockwork and secondary steel, and installing the units.

    Detailed design and issued-for-construction packages are complete.

    Marine works, piling, dewatering and site utilities are being progressed separately by the existing early works contractor.

    The hotel component covers roughly 31,700 sq m of gross floor area and will offer 321 guest rooms, four F&B outlets, spa and wellness facilities, a family pool, and meeting, incentive, conference and exhibition space.

    The new contractor’s scope includes superstructure concrete works, façade and roof works, mechanical, electrical and plumbing, interior fit-out and landscaping.

    Seven will consider only contractors with demonstrated experience delivering water parks with complex aquatics, theming and rockwork – either directly or through clearly defined subcontractor partnerships – along with a track record in high-end turnkey hotel fit-outs.

    Construction of Seven’s Dammam entertainment complex is currently under way. In October 2023, Saudi Binladin Group won contracts worth around SR5bn ($1.3bn) from Seven to build two entertainment destinations in the Dammam and Al-Khobar areas of the Kingdom’s Eastern Province.

    The Al-Khobar entertainment complex is being built on reclaimed waterfront land. The complex spans around 300,000 sq m and is also known as ‘The Waves’.

    The Dammam entertainment complex spans 360,000 sq m and is being built on reclaimed land on the Dammam waterfront.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17710096/main.jpg
    Yasir Iqbal
  • Al-Ula appoints equestrian village early works contractor

    21 July 2026

     

    Saudi Arabia’s Royal Commission for Al-Ula (RCU) has awarded a contract for early construction works at the Al-Muatadil Equestrian Village.

    The contract was awarded to Al-Khobar-based Al-Shalawi International Company.

    Canadian engineering firm AtkinsRealis is the project management consultant. UK-headquartered Baker Wilkins & Smith and local firm Al-Hoty Company are the cost consultants.

    Dubai-based SSH is the supervision consultant, and UK-based Hopkins Architects is the lead design consultant.

    RCU announced the project plans in March 2023, including the development of an equestrian hub with two arenas that can accommodate 5,000 and 1,400 spectators, respectively.

    The venue will also include grass polo, sand polo and endurance facilities, with capacities of 600, 400 and 600 seats, respectively.

    These facilities will be complemented by visitor amenities, two stable compounds with capacity for 740 horses, and accommodation and retail outlets for event participants and workers.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17710170/main.jpeg
    Yasir Iqbal
  • Contractors await decision on Riyadh airport sewage plant

    21 July 2026

     

    Seven contractors are awaiting a decision on a contract to build a sewage treatment plant at the King Salman International airport (KSIA) development in Riyadh, according to sources.

    It is understood that bids were submitted to King Salman International Airport Development Company (KSIADC) in March, following the tender’s release earlier this year.

    The plant will treat wastewater generated by the airport and surrounding developments, including passenger terminals, runways, residential districts, commercial facilities and logistics areas.

    The facility will have a treatment capacity of 92,000 cubic metres a day. The contract is estimated to be worth SR700m ($187m).

    The bidders (all local) are:

    • Al-Rawaf Trading & Contracting
    • Almajal Alarabi
    • Nesma Water & Energy
    • Safari Company
    • Saudi Services for Electro-Mechanic Works
    • Washnah Contracting
    • Water & Environment Technologies (Wetico)

    The project scope includes the construction of the treatment plant, the installation of preliminary, secondary and tertiary treatment systems, sewage collection and conveyance pipelines, pumping stations, and electrical and control systems.

    US-headquartered Jacobs is acting as the main project consultant. Commercial operations for the plant are scheduled for 2029.

    The sewage treatment plant is one of several water infrastructure packages planned for the airport. KSIADC is also evaluating bids for a separate $30m engineering, procurement and construction contract covering potable water and fire water tanks and an associated pumping station. The same seven companies have submitted bids for that package.

    Earlier in July, MEED exclusively reported that a joint venture of Beijing-headquartered China Civil Engineering Construction Corporation and Dammam-based Mofarreh AlHarbi & Partners had won a deal to undertake the enabling and substructure works for Terminal 6 at KSIA.

    The latest development followed KSIADC’s receipt of prequalification statements from contractors on 1 July for two new packages at KSIA.

    These include the construction of a permanent East-West corridor and landside access roads serving the North and South terminals.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17709281/main.jpg
    Mark Dowdall
  • Dubai Municipality awards Tasreef drainage contract

    21 July 2026

     

    Dubai Municipality has awarded local firm Detech Contracting the engineering, procurement and construction (EPC) contract for the TF-15-C1 package of its Tasreef Rainwater Drainage Network programme.

    It is understood the municipality issued the letter of award for the contract earlier this month, covering the construction of a stormwater drainage system along Al-Wasl Road and communities west of the Dubai Canal.

    The project includes the construction of a gravity-based stormwater pipeline network with diameters of up to 3.5 metres. It is estimated to cost $100m.

    It was tendered in February through the government’s Sewerage and Recycled Water Projects Department, with bids submitted in April.

    The package forms part of the wider Tasreef initiative, which is intended to improve Dubai’s flood resilience.

    The TF-15-C2 package was recently awarded to China State Construction Engineering Corporation for a stormwater drainage network project located along Umm Suqeim Road in the Al-Barsha and Al-Quoz areas of Dubai.

    The project is estimated to cost $162m and includes the construction of about 20 kilometres of new stormwater pipelines. Similar to the C1 package, it is located west of the Dubai Canal and will connect the Al-Quoz 3 and Al-Quoz 4 industrial areas with Al-Quoz 1.

    Separately, Al-Kharafi has won a drainage EPC contract (Ds207) to upgrade an existing pumping station for the municipality, a source said. The package focuses mainly on mechanical works and is valued at about $39m.

    In May, MEED reported that local firm Nael Construction & Contracting had signed a contract with Dubai Municipality to build a sewage and stormwater drainage system in Dubailand.

    The project (DS-204-C1) involves the construction of a drainage system with sewage gravity pipelines of up to 2,200mm in diameter.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17707980/main.jpg
    Mark Dowdall