Technical FAQs 4

How big is global offshore oil & gas EPC Contracting?

Global offshore oil and gas EPC contracts to hit US$54bn in 2025 Global EPC (engineering, procurement and construction) contracting in the offshore oil and gas sector continues to flourish, despite headwinds in the fossil fuel industry.

Will global EPC Contracting grow in 2025?

Global EPC (engineering, procurement and construction) contracting in the offshore oil and gas sector continues to flourish, despite headwinds in the fossil fuel industry. Westwood Global Energy, an energy market research firm, reports a steady demand for hydrocarbons and predicts significant contract awards in 2025.

How big is offshore EPC investment in 2024?

Projects involving subsea equipment, offshore platforms, floating production systems and LNG (liquefied natural gas) infrastructure are expected to drive billions in investment. In 2024, offshore EPC activity remained robust, with subsea and platform contracts alone valued at approximately US$52bn.

Which countries will lead Offshore procurement in 2025?

(Credit: BW Offshore) Geographically, Africa and the Americas will lead offshore procurement in 2025, accounting for 26% and 25% of the global market, respectively. In Africa, key projects include ExxonMobil’s Owowo field and TotalEnergies’ Preowei development, both offshore Nigeria.

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Offshore Oil & Gas Procurement to Continue

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