Petrofac has been ranked in the Engineering News-Record (ENR) Top 250 International Contractors list, moving up four places from last year, to number 15.
The list classes firms from across a number of sectors, based on contracting revenue from projects outside of their home countries, measuring their presence in international commerce.
Announcing the results, ENR commented: “The uncertainties in the international construction market can be seen in the results of the survey. The market for international contractors has been undergoing stresses over the past four years, starting with a drop in commodity metals prices, which curbed the mining sector, closely followed by the collapse in oil prices. International contractors also have had to contend with national political and financial upheavals.”
On a regional basis, the Middle East was the biggest gainer in this year’s survey, up 9.8%, to US$84.02 billion in 2016. Europe also saw a modest gain in 2016, rising 2.7% to US$95.99 billion.
The full list of ENR’s 2017 Top 250 International Contractors can be found here.