Middle East Economic Survey

VOL. XLIX

No 13

27-March-2006

GCC/REGIONAL

Rise In EPC Costs Prompts Ground Shift In Developer-Contractor Relationships

The impact of surging engineering, procurement and construction (EPC) costs for expansions, refurbishments and new-build projects, plus the surge in rig rates, has been a feature of the petroleum, petrochemical and power industries in the Middle East over the last two years. But as oil prices look set to stay firm in the foreseeable future, limited...