Strategic Intelligence Brief

Worley
Global Opportunities
2026

Construction & commissioning management opportunities across Worley's worldwide project pipeline — Americas, Europe, Middle East, Africa & Asia Pacific.

Date21 February 2026

FocusAll Regions

Projects Tracked25 Active / Upcoming

Combined Value>US$180 Billion

01

Worley Financial Snapshot — FY2025

Aggregated Revenue

A$12.1B

▲ 4% YoY

New Contract Wins

A$17.1B

▲ 32% since Jun '24

Backlog

A$16.9B

▲ 22% since Jun '24

Pipeline to Award (12mo)

~49%

▲ from 44% prior

Largest & fastest growing. Projects entering construction & fabrication — CP2 LNG, Baytown H2, Alaska LNG.

Strong in Norway (offshore EPC, wind), UK (CCS, H2), Germany (LNG, H2 pipelines). Growing energy transition portfolio.

ADNOC, Aramco, Ma'aden, OCP driving growth. Resources sector up 23% with fertilizer & water projects.

Reduced activity, but INPEX Abadi LNG ($20B) in FEED positions APAC for major growth post-2027.

02

Pipeline — Americas, Middle East, Africa & APAC

Venture Global CP2 LNG
Phase 1 + Phase 2

~$28B

Louisiana, USAEPC Active

Full EPC incl. commissioning & start-up. Eng. ~90% complete. First LNG late 2027. Ph.2 awarded Jan '26.

Excellent

Saudi Aramco Jafurah
Unconventional Gas Programme

$100B+

Saudi ArabiaCM Active

Worley providing CM services directly. Phase 1 on stream; Phase 2 targeting 2027. 3+2yr contract.

Excellent

ADNOC Bab Gas Cap
Gas Processing Expansion

>$4B

Abu Dhabi, UAEFEED → FID '26

1.8 bcfd capacity increase. Gas processing, NGL, sulphur recovery, CO2 capture. Potential FEED-to-EPC.

Very High

OCP Tarfaya Green Ammonia
Power-to-X Programme

$7B

MoroccoFEED

World's first P2X green ammonia. 2.8GW wind + 1GW solar. 30,000-worker camp. 1Mt/yr. Target: 2027.

Excellent (if EPC)

Rio Tinto Rincon Lithium
Battery-grade Li Carbonate

$2.5B

ArgentinaConstruction

Worley as LIDP. 60kt/yr. Remote Andean site. Construction mid-2025. First prod. 2028.

High

ExxonMobil Baytown H2
Low-Carbon Hydrogen & Ammonia

Multi-B

Texas, USAEPC (subj. FID)

World's largest low-carbon H2. 1 bcf/day + 1Mt/yr NH3. >98% CO2 capture. Startup 2029.

High

INPEX Abadi LNG
Masela Block

$20B

IndonesiaFEED → FID '27

Largest SE Asian LNG dev. 70%+ FEED from Indonesia. Subsea, pipeline, CCS. FEED end 2026.

Very High (future)

Mozambique LNG
TotalEnergies-led

$20.5B

MozambiqueRestart Jan '26

~40% complete. Force majeure lifted Nov '25. Remobilisation 2026. First LNG 2029.

High

03

Pipeline — Europe

ConocoPhillips PPF Ekofisk
Brownfield Redevelopment

Undiscl.

Norway NCSEPC Jan '26

Topside brownfield mods on Ekofisk. Restoring 90-120 MMboe from shut-in fields. Delivery autumn 2028.

High

Equinor NCS Framework
Sleipner & Johan Sverdrup

NOK 100B*

Norway NCSMay '26 start

5yr framework (1 of 7 suppliers). Maintenance, mods, minor projects. ~4,000 man-yrs across all contractors. *Total all suppliers.

High

Sørlige Nordsjø II Wind
Offshore Substation EPCI

Undiscl.

NorwayEPCI

Norway's first commercial offshore wind farm (1.5 GW). Worley Rosenberg's first EPCI substation. Ops target 2031.

Very High

Heidelberg Padeswood CCS
First EU Cement Carbon Capture

Undiscl.

Wales, UKEPCM

800kt CO2/yr capture. Balance of plant EPCM. Construction started late '25. Operational 2029. HyNet cluster.

Very High

Brunsbüttel FSRU Phase 2
LNG Terminal Expansion

Undiscl.

GermanyCIC Active

New permanent jetty, berth & topsides. Direct construction, installation & commissioning scope. Critical energy infra.

Very High

AquaDuctus H2 Pipeline
Europe's First Offshore H2 Pipeline

Undiscl.

German North SeaEPCm

GW-scale green H2 transport offshore to mainland. Worley managing EPC & commissioning contractors across all 3 phases.

Very High

Shell Holland Hydrogen 1
Europe's Largest Renewable H2

Undiscl.

Rotterdam, NLConstruction

200 MW electrolyser, 60kt H2/day. Powered by offshore wind. Design, procurement & CM support. Ops target '26-'27.

High

Preem Lysekil Renewable Fuels
Diesel & SAF Conversion

Undiscl.

SwedenFEED → EPCm '26

Isocracker conversion to renewable diesel & SAF. 2-3Mt CO2e reduction. EPCm rollover pending FID early 2026.

High

04

Project Phasing & Timeline

FEED

EPC / Engineering

Construction

Commissioning

      202520262027202820292030
    

AMERICAS & MIDDLE EAST

CP2 LNG Ph.1+2

Construction

Comm.

Louisiana

Aramco Jafurah

CM Active

Comm.

Saudi Arabia

ADNOC BGC

FEED

Construction

Comm.

Abu Dhabi

ExxonMobil Baytown

EPC

Construction

Comm.

Texas

OCP Tarfaya

FEED

Construction

Comm.

Morocco

Mozambique LNG

Construction (restart)

Comm.

Mozambique

INPEX Abadi LNG

FEED

Construction

Indonesia

EUROPE

ConocoPhillips Ekofisk

EPC

Comm.

Norway

Sørlige Nordsjø II Wind

Eng.

EPCI Construction

Comm.

Norway

Padeswood CCS

EPCM Construction

Comm.

Wales, UK

Brunsbüttel FSRU Ph.2

CIC

Comm.

Germany

AquaDuctus H2 Pipeline

Planning

EPCm Construction

Comm.

Germany

05

Where We Fit — Recommendations

Priority 1 — Immediate

CP2 LNG, Louisiana

Worley's largest active EPC. Scope includes commissioning & start-up. Phase 1 peak construction now with first LNG late 2027. Phase 2 just awarded. Hundreds of commissioning roles through 2026-2028.

Priority 2 — Immediate

Saudi Arabia Portfolio

Aramco Jafurah (active CM) + Ma'aden Phosphate 3 (EPCM). Live commissioning roles in Khobar. Phased development = continuous demand.

Priority 3 — Europe Immediate

Norway & UK Cluster

Ekofisk EPC (active), Equinor 5yr framework (May '26), Sørlige wind EPCI, Padeswood CCS EPCM. Norway is Worley's strongest European hub with major offshore EPC and wind energy transition work.

Priority 4 — Near-term

ADNOC BGC, Abu Dhabi

>$4B gas processing expansion in FEED with FID expected 2026. CM & commissioning roles ramp from 2027 if FEED converts.

Priority 5 — Europe Near-term

Germany Energy Infra

Brunsbüttel FSRU Phase 2 (active CIC), AquaDuctus H2 pipeline (first-of-kind, EPCm all phases), Shell Rheinland conversion. Germany emerging as major market for construction & commissioning.

Priority 6 — Strategic Watch

Mega-Projects in Pipeline

Tarfaya $7B (Morocco), INPEX Abadi $20B (Indonesia), Mozambique LNG $20.5B (restart). All require positioning now for 2027+ engagement.

06

Global Project Map

Oil & Gas / LNG

Hydrogen

CCS / CCUS

Mining

Fertilizer

Wind

Refinery / Fuels

Dot size = project value

Americas

Europe

Middle East

Africa

Asia Pacific

WorleyGlobal Opportunities2026

Worley Financial Snapshot — FY2025

Pipeline — Americas, Middle East, Africa & APAC

Pipeline — Europe

Project Phasing & Timeline

Where We Fit — Recommendations

Global Project Map

Worley
Global Opportunities
2026