L&T Hydrocarbon Engineering-led consortium won two EPCI contracts from Saudi Aramco

The increasing investment in Engineering, Procurement, Construction and Installation (EPCI) in oil & gas field will boost the demand for industrial valve market in Saudi Arabia 

Saudi Arabia: L&T Hydrocarbon Engineering, a fully owned subsidiary of Larsen & Toubro, in consortium with EMAS CHIYODA Subsea has won two contracts by Saudi Aramco for Engineering, Procurement, Construction and Installation (EPCI). Under this contract, the company will provide various services such as supplying and installing four wellhead decks in the Safaniya field and carrying upgrades on 17 platforms in various offshore fields in the Arabian Sea off the coast of Saudi Arabia. 

TechSci Research depicts that the increase in investment activities in upstream sector of oil & gas in the country will increase the demand for valve market. The Saudi Arabia government has formulated plans to become the second largest exporter of refined oil products in the world by 2017, and has opened the sector for private investments. With growing developments in petrochemical and refinery infrastructure, the demand for valves is anticipated to increase at a robust pace during 2016 – 2021.

According to a recent report published by TechSci Research, “Saudi Arabia Valves Market, By Material Used, By Application, Competition Forecast & Opportunities, 2011 – 2021”, the valves market in Saudi Arabia is anticipated to cross US$ 5 billion by 2021. Growing demand from various end user industries such as refinery, metallurgy, food & beverage, chemicals, etc., coupled with implementation of favourable government policies are projected to increase demand for valves in Saudi Arabia during 2016 - 2021.