Wednesday 11 October 2023

Offshore engineering, procurement and construction (EPC) investment for 2023 is forecast at a whopping $62.5 billion, of which $29 billion has been awarded year-to-date. The remainder of 2023 is expected to witness another $33.3 billion of offshore EPC spend. The top three spending regions are estimated to be the Middle East (48%), Southeast Asia (20%) and Latin America (8%), by operators such as Saudi Aramco, North Oil Company and PetroVietnam.

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