GCC Oil and Gas Industry Report

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Oil and Gas Industry Report - Gulf Cooperation Council Countries
This report includes:
-) Main Market Features and Trends
-) CAPEX Trends in the GCC
-) Industry Structure and Contractors' Access Route to Project Opportunities
-) Top Ten EPC Contractors
-) Projects Listed by Contractor and Country

Published in: Business, Economy & Finance
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GCC Oil and Gas Industry Report

  1. 1. GULF COOPERATIONCOUNCIL (GCC) COUNTRIESOil & Gas Industry Report1
  2. 2. DisclaimerThe author, Amir H. Azadehnia, does hereby certify that, to the best of hisknowledge, the views and opinions in this research report reflect his personalviews about the companies named. He has not received direct or indirectcompensation from such companies in return for expressing specific viewpointsin this report.Copyright 2012, Amir H. Azadehnia. All rights reserved.This presentation is based on information which the author believes is reliable,but the author does not represent or warrant its accuracy. The opinions andestimates expressed here represent the views of the author as of the date ofthis report. These opinions and estimates may be subject to change withoutnotice. The author will not be responsible for any consequences associated withreliance on any statement or opinion contained here.
  3. 3. Oil & Gas Industry in the GCC3`Main Features & Trends• Shaped by local government economic policies• Managed and controlled by National Oil Companies - often with high interest inthe local content• In the mid-term, driven by downstream refining & petrochemical mega projectsin KSA & UAE (80% of the regional CAPEX)• Planned investment of $230 bn in greenfield projects by 2016• Plant upgrading projects (e.g. refinery revamps in KSA & Kuwait, RasGas, EORin Oman…)• 2012 investment estimated at $80 bn (80% invested in downstream)• Sustained growth expected in downstream by 2020• Delays vs. announced plans are commonplace, specially in Kuwait and KSA
  4. 4. GCC CAPEX Trends40 40 80 120 160 200 2402009201020112012 (planned EPC)2013-16 (planned EPC)US$ billionKSA Kuwait Qatar UAE Oman
  5. 5. Industry Structure and Contractor ProjectAccess5Access Point Pros ConsNational OilCompany (NOC)Direct contract with the projectowner/operatorEPC set up in all major projectsNeeds financing & taking highrisksContractor Access to opportunities withsignificant financial and qualificationrequirementsSubcontractingSecondary ProjectAccess PointNational OilCompanies & theirSubsidiariesManaging/PMContractorsFEEDContractorsEPCContractorsInternationalPartners (IOCs)Primary ProjectAccess Point
  6. 6. Top Middle East EPC ContractorsSaipemPetrofacSamsung EngineeringTechnipFlourKBRCB&IHyundai E&CJacob’s EngineeringFoster WheelerWorley ParsonsTechnicas Reunidas6JGC CorpBechtelSK E&CWood GroupLarsen and ToubroCH2MHillPunj LloydGS EngineeringDaelim IndustrialUhdeChiyodaMott MacDonald
  7. 7. Some of the Projects in Progress by EPC ContractorContractor ProjectsSaipem In KSA: Wasit Gas Program (Aramco), Rub al-Khali Gas Field (Aramco-Shell),Safco V Urea (Safco), Rabigh II Refinery (Aramco-Sumitomo)In UAE: Shah Gas Field Development (ADNOC)In Kuwait: Jurassic Oil Field Development (Kharafi National), Gas Booster BS171 (KOC)KBR In KSA: Yanbu Export Refinery (Aramco-Sinopec), Ras Tanura IntegratedRefinery & Petrochemical (Aramco-Dow), Jazan Refinery & Terminal (Aramco)In UAE: Integrated Gas Development (Gasco), Das Island (Adgas)Petrofac In KSA: Rabigh II Refinery (Aramco-Sumitomo)In UAE: Asab Full Development (ADCO), Sajaa Gas Plant (Sharja National OilCorp)In Qatar and Kuwait: Gas Sweetening (Qatar Petroleum), Oil & Gas Pipelineand Water Injection (Kuwait)7
  8. 8. Some of the Projects in Progress by Country8Country Total Projectsin ProgressCAPEX (bn $)ProjectsHorizonProject Owners/Operators Project ContractorsUAE 69 by 2018 Takreer, ADCO, ADNOC,ZADCO, GASCO, ADGAS, ADM-OPOC, Sharja National Oil CorpSamsung Engineering, Saipem,SK Engineering & Construction,JEC, Foster Wheeler, TechnicasReunidas, JGC, Flour, Bechtel,Jacobs, Larsen & ToubroOman 27 by 2017 PDO, PDO-BP, Oman OilCompany, Oman Oil RefineryCompanyCB&I, Worley Parsons, TechnicasReunidas, Hyundai, JP Kenny,Wood GroupKuwait 42 by 2020 Kuwait Petroleum Corp, KuwaitOil Company, Kuwait NationalPetroleum Company, KharafiNationalSaipem, AMEC, Flour, Petrofac,Technip, JGC, GSQatar 27 by 2016 Qatar Petroleum, Qatar Gas,Qatar Petrochemical CompanyChiyoda, JGC, Technip, Hyundai,Flour, CTCI

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