The projected growth of the global Oil and Gas EPC market highlights the industry's robust demand and the critical role it plays in meeting the world's energy needs. Key regions like Asia Pacific, with burgeoning economies like India, China, Australia, and Malaysia, are driving this demand through extensive exploration and production initiatives.

 

6th EPCI 2024 will be organized on 9th August 2024, Mumbai, India

 

Various factors, including population growth, economic expansion, technological advancements, and policy changes, contribute to the sector's evolution. This evolution is evident in the increasing trade between producer and consumer nations, leading to extensive pipeline construction for oil and gas transmission and distribution.

 

To navigate this dynamic landscape, EPC companies are embracing digitalization to enhance agility, efficiency, and risk management. By investing in digital capabilities, they optimize costs, schedules, and operations, overcoming the challenges posed by complex environments and industry requirements.

 

In the downstream segment, the demand for refined petroleum products and petrochemicals is driving steady growth in EPC services. Aging facilities necessitate upgrades to maintain efficiency, safety, and compliance with environmental regulations, presenting further opportunities for EPC projects.

 

Advancements in refining and petrochemical technologies further stimulate investment in new facilities or the retrofitting of existing ones, aligning with sustainability goals and market demands.

 

Overall, the Oil and Gas EPC market's trajectory underscores the sector's resilience and adaptability, as companies leverage innovation and digitalization to meet evolving customer needs and industry dynamics.

 

Advancements in refining and petrochemical technologies are driving investment in new facilities or the retrofitting of existing ones to improve efficiency, reduce emissions, and meet changing market demands.

 

The conference will have diverse range of sessions covering various aspects of project management, technology, innovation, and industry trends. 

 

What needs to be done:

 

• EPC industry needs to integrate processes and products to ensure that better value can be delivered to the client.

• Outsourcing of an activity for business process improvements such as reduced lead time, higher flexibility, reduced inventory etc.

• Knowledge management and effective information flow for an effective value chain. 

• To manage capital projects efficiently, companies should develop a strategy or roadmap for capital project efficiency and performance improvement, which will help save on schedule, costs and lead to higher margins.

• Design standardization provides one of the greatest savings opportunities in capital projects. 

• Digital technologies can make oil and gas capital projects more productive as well.