January 2021

Trends and Resources

Business Trends: Case EPC-2020: Increasing competitiveness and profits

Prior to the hardships faced during the global pandemic, the engineering, procurement and construction (EPC) industry was already facing several challenges.

Before the challenges of the COVID-19 pandemic, there were already issues within the energy market (especially in the oil and gas industry) that exposed challenges in the engineering, procurement and construction (EPC) sector. Low-cost competition by EPC firms from Asia was already putting margins under stress. Apart from the alarmingly low quarterly results from many publicly traded EPC firms, several articles pointed at fundamental problems—one of them being productivity. The gap in global energy consumption and low oil prices has decimated investments. An anticipated stream of projects in LNG liquefaction and other areas has dried up. It has been argued that Western EPC firms need to cre

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