Samer Choucair: Egyptian Expansion into Oman Is Reshaping Regional Energy-Services Investment
Entrepreneur Samer Choucair said the selection of the Petrojet–Enppi consortium as one of only four international contractors and alliances eligible to compete for an engineering, procurement, and construction project portfolio worth more than $6 billion in Oman over six years represents a strategic development reflecting growing confidence in the execution capabilities of Egyptian companies across Gulf energy markets.
Choucair explained that the framework agreement does not constitute a guaranteed contract for the full value of the portfolio. However, it places the Egyptian companies in a strong competitive position within Oman’s largest oil market, enhancing their prospects of increasing exports of engineering and technical services, supporting foreign-currency inflows, and creating new opportunities for institutional investors to reassess the energy-services sector.
He added that the development reflects a shift in capital-allocation trends across the regional energy industry, as investors increasingly focus on companies capable of exporting engineering expertise and competing successfully in Gulf markets.
Regional expansion supported by accumulated expertise
Samer Choucair noted that the Middle East’s energy-services sector is undergoing a gradual realignment of competitive dynamics as national companies with extensive experience in delivering major projects expand across regional markets.
He added that the agreement signed by Petroleum Development Oman with the Petrojet–Enppi consortium places the Egyptian companies within a limited group of qualified contractors eligible to compete for upstream, surface-facility, and infrastructure projects over the next six years, within a portfolio exceeding $6 billion.
Choucair explained that this development comes as Oman continues implementing investment programmes across its oil and gas sector alongside the objectives of Oman Vision 2040, while Egypt pursues a strategy aimed at transforming its petroleum companies into major sources of foreign-currency revenue through the export of engineering services.
The Omani market creates new opportunities
Samer Choucair emphasized that Petroleum Development Oman is the Sultanate’s largest oil and gas producer and manages an extensive portfolio of field-development, gas-processing, and infrastructure projects.
He noted that selecting only four alliances to compete reflects demanding qualification standards. Success in future tenders will depend on the ability to provide integrated engineering, procurement, construction, and project-management solutions while fully complying with safety, quality, and local-content requirements.
Choucair added that Enppi already has experience in the Omani market after completing a $355 million turnkey project to expand gas facilities at Birba, giving the consortium operating expertise and a clearer understanding of local market conditions and the requirements of the Omani operator.
He noted that the agreement forms part of the Egyptian Ministry of Petroleum and Mineral Resources’ strategy to strengthen the international expansion of its companies.
Enppi joined Engineering News-Record’s list of the world’s 100 largest engineering companies in 2025, while Petrojet is approaching inclusion in the same ranking, reflecting the development of their execution capabilities and international standing.
A transformation in the Gulf energy-services market
Samer Choucair explained that the engineering, procurement, and construction market across Gulf Cooperation Council countries continues to grow, supported by sustained investment in maintaining oil and gas production, developing processing facilities, and reducing gas flaring.
He added that Oman places particular emphasis on local-content programmes designed to transfer knowledge, develop national capabilities, and increase the participation of domestic companies in supply chains.
The Egyptian consortium may therefore be better positioned to compete because of its ability to align with these requirements.
Choucair noted that institutional investors view agreements of this kind as an opportunity to monitor the growth of Egyptian engineering-services companies.
Future contracts could become a sustainable source of foreign-currency revenue and improve profit margins, provided the consortium succeeds in winning tenders and managing costs efficiently.
He emphasized, however, that the actual value of contracts will remain dependent on the outcomes of future competitions, requiring a balanced investment assessment.
Investors monitor execution quality
Samer Choucair said institutional investors no longer view national companies in North Africa merely as domestic contractors, but increasingly regard them as platforms capable of exporting engineering expertise and competing for major projects across Gulf markets.
He added that the framework agreement with Petroleum Development Oman reduces barriers to market entry and provides a six-year period during which the consortium could build a growing revenue base by converting its qualification into executable contracts.
Choucair noted that markets are closely monitoring the consortium’s ability to manage execution risks, control costs, and comply with local-content requirements.
Investors tend to favour companies capable of maintaining stable profit margins by diversifying their revenue sources beyond domestic markets.
He added that success by Petrojet and Enppi could positively affect their investment valuations, particularly among investors following the regional energy-services industry.
Promising opportunities and continuing challenges
Samer Choucair explained that the principal opportunities include the possibility of securing a series of successive contracts within the project portfolio, providing more stable revenue flows than individual assignments.
The consortium could also establish long-term partnerships with Omani operators by supporting knowledge transfer and developing local talent.
He noted that several risks remain, including strong competition from the other three shortlisted alliances, possible delays in project awards caused by oil-price volatility or changing government-spending priorities in Oman, and the operating challenges associated with executing major projects in complex environments.
Choucair cautioned against overstating the value of the opportunity, explaining that the portfolio exceeding $6 billion represents the maximum available project pipeline rather than the value of guaranteed contracts.
He added that informed investors should focus on the consortium’s ability to convert its qualification into genuine market share and deliver projects to a high standard, as these will be the decisive factors in transforming the agreement into a platform for sustainable expansion.
Future outlook
Concluding his remarks, Samer Choucair emphasized that the results of the forthcoming tenders will provide an important indication of the ability of Egyptian engineering-services companies to compete in Gulf markets, where competition from Asian and European companies continues to intensify.
He added that, should the Petrojet–Enppi consortium secure a meaningful share of the project portfolio, this is likely to support growth in international revenue and increase the appeal of Egypt’s energy-services sector to investors seeking indirect exposure to Gulf capital expenditure.
Samer Choucair concluded that accumulated experience in delivering major projects has become one of the most valuable exportable assets.
Companies capable of executing projects to international standards will be best positioned to attract capital and achieve sustainable growth.
He said the Egyptian consortium’s inclusion in the limited group of competitors in Oman marks the beginning of a new phase, while the next six years will determine the scale of the gains available across the Gulf energy market.