EPC, or Engineering, procurement and construction, is a type of contracting arrangement used in various companies where an EPC contractor takes care of the construction, commissioning, the handover of the project, design, and procurement.
The contract is generally covered by the FIDIC silver book. The EPC Phase of a particular project is also known as the Execution phase in which it follows the basic engineering design known as FEED (Front End Engineering Design phase. Here, we bring you the top 10 best EPC companies in the world in 2019.
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Having its headquarters in Paris, France, Technip is a company which carries out various construction projects for the energy industry. It operates in a total number of 48 countries. The company is active in 3 business segments. It has also been certified as a top employer in 24 countries and 3 regions.
9. Samsung Engineering
The first engineering firm in Korea founded in 1970 and has its headquarters located in Seoul, South Korea. The company provides a range of engineering services which includes design, construction, procurement, and commissioning. As of June 2012, the company had 8,300 employees. The products of this companies are related to Hydrocarbons (such as Hydrotreating, LNG, Propylene, Fertilizers, Aromatics, Ethylene etc.), Environmental (Water treatment, Pollution prevention etc.), Power (such as coal-fired, IGCC, oil- fired) and Industrial (IT etc.).
8. Hyundai Heavy Industries
Having its headquarters located in Ulsan, South Korea, Hyundai Heavy Industries is the world’s largest shipbuilding company. As of 2012, the company has 25,093 employees. The company deals with the manufacture of Very large crude carriers, container ships, LNG carrier and drilling ships. It also performs offshore, engineering and produces construction equipment. The recent order of this company is a $1.94 billion awards from Abu Dhabi Marine Operating Company for the construction of fixed platforms in Abu Dhabi.
The company secured a number of high- profile contracts in the Middle East and beyond in the year 2014- 15. The Italy based company deals with the oil and gas industry contracts. It has been contracted for designing several pipelines. Some of them are South stream, Nord stream, Blue stream and green stream. It was founded in the year 1957 as Eni Group service provider. It is based in over 60 countries. It manufactured many vessels, including the Saipem 7000, which is the second largest heavy lift vessel in the world. In the year 2008, the company was included in “Global 100- Most sustainable corporations in the World”.
The London based company; Petrofac provides oilfield services to the international oil and gas industry. The company was established in the year 1981. It is organised into three divisions, Engineering and Construction, Integrated Energy Services and Engineering and Production Services. The main job of the company is to design, build and maintain oil and gas facilities. The company provides a full suite of engineering services which include feasibility and conceptual studies and front-end engineering and design, also known as FEED through detailed design for both onshore and offshore facilities.
5. Worley Parsons
Worley Parsons is an Australian based company which has currently more than 24,500 employees all over the world. The company works in construction and engineering, energy, power, and gas sectors. The company has many distributed branches such as Worley Parsons China, Catskills, Energy Resourcing and much more. The company covers the full lifecycle, which is from creating new assets to sustaining it and operating in the sector of hydrocarbons, metals, chemicals, and minerals.
4. Chicago Bridge and Iron Company
The company was founded in 1889 and has its headquarters located in Netherlands. Its annual turnover is around $12 billion. The company deals with the Oil, Gas, Energy, Natural resource, and Engineering sectors. The company has built some of the popular bridges as well as certain constructions such as Boiling Nuclear Superheater reactor in Puerto Rico, Embarras River Bridge in the USA, Caplinger Mills Historic District on Washington Avenue. The company will have a contract worth $90 million awarded by ADMA-OPCO of constructing 5 crude oil storage tanks.
3. SK Engineering and Construction
The South Korean company deals with the chemical, petroleum and energy industries. It also deals with wireless broadband services and provides mobile network services. It is the one of the foremost companies that entered the LNG business in the U.S. The company also plays an important role in large-scale apartment projects. The company also secured meg- development projects, including the the Laos Hydroelectric Power Project for the first time in Korea.
2. Petroleum Construction Company (NPCC)
This UAE based company is known for creating awesome skyscrapers all across UAE. It is active in various sectors which include Oil and gas, infrastructure, Civil engineering, and Petrochemical. They are the winner of most projects by GCC and thus are very popular in UAE. It has relationships with most of the National Oil Companies and International Oil Companies. One thing worth mentioning is that the company owns a fleet of 22 offshore vessels equipped with facilities which are meant for deepwater operations.
1. TATA Projects Ltd.
The part of India’s largest business group TATA, the company has revenues of $100 billion. The company as EPC as its core business and addresses metal and minerals, oil and gas and power generation. They are experts in coals and gas-based plants. They provide end-to-end customised solutions for Ferrous and Non- Ferrous industries. The company is having the ability to design, build and deliver the best solution on time. The company has 696,699 employees as of 2017.
As has been seen above, EPC companies basically deal with the engineering design of a project. EPCs have very high turnovers in the market and they deliver functioning facility or asset to their clients. EPCs are very important in the society as without them the big projects (engineering, architectural etc.) would not operate in a well- efficient manner.