Rice Global E&C Forum

As the crude oil prices fell in 2014 from high above $100/bbl to nearly $30/bbl in early 2016, most of the Exploration & Production (and associated hydrocarbon sectors) capital spending dropped as well. Since early 2017, for most part the prices stayed above $50/bbl and have firmed up above $60/bbl range since late 2017. This in turn has resulted in increased capital spending in the hydrocarbons industry. Engineering & Construction (E&C) businesses saw a contraction of business as oil prices fell. With growth in capital spending, we feel that E&C industry is finally “Turning the Corner”. Crude oil price escalation period from 2006 to 2014 led to significant increase in escalation in cost of capital programs and these programs were justified based on high crude price environment. Post 2016 timeframe, owners and investors are also expecting better capital efficiency for these capital programs and have challenged E&C and services companies as well as suppliers to reduce the costs. We will discuss E&C industry’s responses to these challenges and how industry is preparing and positioning in a highly competitive landscape.



  • Don Bari, VP, Technology and Analytics Group: Oil Markets, Midstream, Downstream and Chemicals, IHS Markit 
  • David Claggett, Senior Vice President, OGC Markets and Strategy, Kiewit Energy Group
  • Mark Coscio, Vice President – Petrochem Operations, McDermott
  • Frank Dishongh, Vice President and General Manager – Houston Operations, Fluor

ModeratorSanjeev Kapur, Apex PetroConsultants