Asprofos

What Asprofos does

ASPROFOS S.A. (ΑΣΠΡΟΦΟΣ ΤΕΧΝΙΚΗ ΕΤΑΙΡΕΙΑ Α.Ε.) is a Greek engineering consultancy founded in 1983 and headquartered in Kallithea, Athens. The company is a wholly-owned subsidiary of HELLENiQ ENERGY (formerly ΕΛΛΗΝΙΚΑ ΠΕΤΡΕΛΑΙΑ / ELPE), one of the largest energy groups in Southeast Europe, and provides engineering design, technical consulting, project management, construction supervision, permit engineering, and environmental services across five business areas: Oil, Natural Gas, Environment, Power, and Industry & Infrastructure. Its underlying technology stack includes a proprietary 'intelligent' 3D modeling system used for refinery and industrial facility design, and GIS-based pipeline design tools with custom alignment-sheet automation — both used on large infrastructure projects such as the Trans Adriatic Pipeline (TAP) and the IGI Poseidon/EastMed pipeline systems.

ASPROFOS operates a 'one-stop shop' matrix organizational model that assembles multi-disciplinary teams (chemical, mechanical, electrical, civil, environmental, and process engineers) for each engagement, allowing it to cover the full project lifecycle from feasibility and permitting through FEED, detailed design, and construction supervision. The company has delivered 2,000+ projects across 20+ countries, spanning 5,000+ km of natural gas pipelines, 1,000+ km of liquid fuel pipelines, 22 grass-roots refinery units, and 110 revamped refinery units. Its revenue model is project-based professional services with multi-year contracts, generating average net revenues of approximately €15 million annually (as of 2022), with revenue concentrated in the energy and infrastructure sectors.

Go-to-market is direct enterprise field sales led by senior management and a dedicated Business Development team, targeting oil & gas operators, NOCs (ADCO, KOC, KNPC, Ceylon Petco), state-owned energy companies, and infrastructure developers. Major clients include parent HELLENiQ ENERGY, TAP AG, IGI Poseidon S.A., Gastrade (FSRU Alexandroupolis, in partnership with RINA), Jordan Petroleum Refinery, and the Republic of Serbia's Ministry of Mineral Resources. Customer concentration on the parent group and a small number of large project mandates is structurally high, and the company is exposed to the energy transition via new engagements in renewables, LNG/FSRU infrastructure, and EU-funded technical assistance projects.

Name

Asprofos

Legal name

ASPROFOS S.A. (ΑΣΠΡΟΦΟΣ ΤΕΧΝΙΚΗ ΕΤΑΙΡΕΙΑ Α.Ε.)

Website

https://asprofos.gr

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Engineering & Technical Consulting Services (Energy & Infrastructure)

NAICS

Engineering Services (541330), Environmental Consulting Services (54162)

SIC

Services-Engineering Services (8711)

akta.pro primary industry

Permitting, Siting & Environmental Impact (EIA/NEPA) Advisory (EUAMANAB)

Keywords

• Engineering consultancy services
• Process design engineering
• Pipeline engineering services
• Environmental impact assessment
• Refinery engineering consulting

Headquarters

HQ city

Kallithéa

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Engineering and Technical Consulting Services: ASPROFOS generates revenue by providing specialized engineering studies, technical consulting, project management, environmental studies and permitting, and construction supervision services to energy and infrastructure clients. Revenue is project-based and service-oriented, with average net revenues reported at approximately €15 million annually.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

ASPROFOS provides specialized engineering consultancy for energy and infrastructure projects, offering process design (feasibility, FEED, detailed design, safety studies), project management, procurement, construction supervision, permit engineering, and environmental services (EIA, GIS, licensing, waste management) across oil & gas, natural gas, power, and industry & infrastructure sectors. The firm assembles cross-discipline engineering teams under a single point of contact to deliver projects from concept through commissioning for enterprise clients and government bodies.

Product overview

ASPROFOS is an engineering and consulting company that provides a comprehensive suite of technical services for energy and infrastructure projects. The company offers a unified service portfolio organized around five core business sectors (Oil, Natural Gas, Environment, Power, and Industry & Infrastructure), supported by four main service pillars: Process Studies (including Process Design, Detailed Design, and Safety Studies), Project Management Services (including Project Management, Procurement, and Construction Supervision), Licensing & Environmental Services (including Environmental Impact Studies, GIS, Land Acquisition, Licensing, and Waste Management), and Technical Consulting (including Owner's Technical Consultant, Specialized Engineering, and HSE Management Systems). The company operates primarily in Greece and has been involved in projects across 20 countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil Sector Engineering Services Engineering design, technical consulting, and project management services for refineries, storage facilities, and oil pipelines, supporting oil & gas operators (NOCs, IOCs, independent refiners) from concept through commissioning.
• Natural Gas Sector Engineering Services Engineering and consulting services for high and medium pressure pipelines, metering and regulating stations, compression stations, distribution networks, and LNG (including FSRU) facilities, supporting pipeline developers, TSOs, and LNG project sponsors.
• Environmental Services Environmental consulting, permit engineering, environmental and social impact assessments (ESIAs), and industrial waste management services for energy, industry, and infrastructure clients requiring multi-jurisdictional regulatory compliance.
• Power Sector Engineering Services Engineering services for conventional power generation, high-efficiency cogeneration of heat and power (CHP) systems, renewable energy sources (solar PV, wind), and distribution networks, supporting power utilities and renewable developers through feasibility, design, and construction supervision.
• Industry & Infrastructure Engineering Services Engineering services for retail fuel stations, industrial facilities, and civil infrastructure projects, including feasibility studies, basic and detailed design, project management, and construction supervision for industrial and infrastructure developers.
• Engineering Studies (Process, Detailed Design, Safety) Comprehensive engineering studies pillar that delivers process design (initial design, feasibility, basic design, FEED, technical support, operational optimization, technology selection, operating manuals, trial operation, dynamic simulation), detailed design, and safety studies for industrial projects.
• Project Management Services (Project Management, Procurement, Construction Supervision) Integrated project management, procurement, and construction supervision service pillar covering project scheduling and control, reporting, cost estimation and control, vendor evaluation, tender preparation, erection supervision, contractor claims management, as-built drawings, and OH&S management.
• Licensing & Environmental Services Integrated licensing and environmental services pillar providing environmental and social impact assessments (EBRD standards), GIS services (geographic database management, spatial analysis, remote sensing), land acquisition and easement services, public consultation and licensing support, and waste management studies (liquid/solid/hazardous/toxic waste, waste-to-energy solutions).
• Technical Consulting Services Technical consulting service pillar offering owner's technical consultancy (technical support, monitoring, and review for project owners), specialized engineering (refinery operator training, restructuring support, contractor tender support, energy market analysis, energy efficiency consulting, ISO certification preparation), and HSE management systems (EMAS, ISO 14001, ISO 45001, HACCP, dangerous chemicals, port environmental management).

Quantifiable outcome

• Average net revenues of approximately €15 million annually with 210+ employees, reflecting high revenue per employee.
• +2 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core, strategic and minor.

• RINAcoreStrategic or Co-development Partner · 1 September 2022RINA, an international inspection, certification, and advisory organization, partnered with ASPROFOS to provide Project Management Consultancy (PMC) services for the Alexandroupolis Independent Natural Gas System (FSRU). RINA brings international experience in floating storage regasification units (200+ projects over 15 years), while ASPROFOS contributes 35+ years of gas sector expertise and its established position in Greece's National Natural Gas System. The joint venture covers technical and managerial design support and construction supervision for the FSRU and its 28 km connecting pipeline.
• VIS & Ramboll (Serbia Emergency Stockholding Project Consortium)coreStrategic or Co-development Partner · 1 January 2018ASPROFOS participated in a EuropeAid technical assistance project (EuropeAid 15SER01/01/13) alongside VIS and Ramboll to support the Republic of Serbia's compliance with EU Acquis (Directive 2009/119/EC) on emergency oil and product stockholding. ASPROFOS prepared technical specifications for remote monitoring equipment for oil and product stock management.
• Kuwait Oil Company (KOC)strategicOthers · 1 January 2017ASPROFOS was qualified and entered onto the approved supplier panel of Kuwait Oil Company (KOC) for the provision of engineering consultancy services in oil and gas projects. KOC is part of Kuwait Petroleum Corporation (KPC), which controls the entire Kuwaiti petroleum sector from exploration through refining and product marketing. ASPROFOS had previously been registered with KNPC (another KPC subsidiary).
• ADCO (Abu Dhabi Oil Company) — ADNOC GroupstrategicOthers · 1 January 2016ASPROFOS successfully registered with ADCO (Abu Dhabi Company for Onshore Oil Operations), part of ADNOC Group (among the world's top 10 oil producers). ASPROFOS qualified for detailed design studies, feasibility studies, FEED/advanced basic design, process & technical consultancy for onshore facilities, and advisory services for oil and gas pipelines.
• Technical University of Crete — MSc in Petroleum EngineeringminorOthersASPROFOS collaborates with the Technical University of Crete's MSc in Petroleum Engineering to support postgraduate dissertation projects (two per year), providing guidance from experienced engineers and access to specialized software. The collaboration began in 2017. ASPROFOS also delivers seminars and guest presentations on topics such as project management, drilling, and petroleum engineering.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Wood: UK-headquartered global engineering and consulting company serving energy, materials, and built environment clients. Overlaps with ASPROFOS across oil & gas engineering, PMC, and energy transition advisory, though at substantially larger scale and with deeper process engineering IP.
• Petrofac: UK-listed energy services company serving national and international oil companies across the asset life cycle, including engineering, procurement, and project management. Comparable service scope to ASPROFOS but operating at materially larger scale internationally, particularly across the Middle East.
• TechnipFMC: Global leader in oil & gas project execution across subsea, surface, and onshore/offshore domains. Overlaps with ASPROFOS in FEED, PMC, and detailed design for upstream and midstream energy infrastructure, but with substantially greater engineering capacity and financial firepower.
• Saipem: Italian oil & gas engineering and construction major serving as EPC for pipelines, refineries, and LNG. Competes for the same upstream and midstream engineering mandates as ASPROFOS, though at vastly greater scale and with full contractor capability including offshore execution.
• Worley: Global engineering and advisory firm for energy, chemicals, and resources. Operates at much larger scale across the same oil & gas and energy transition value chain, including PMC, FEED, and detailed engineering where ASPROFOS competes, but with materially broader geographic and capability footprint.

Direct peers

• Ramboll Group: Danish engineering, design, and consulting firm with a strong energy and environment practice. Already partnered with ASPROFOS on the Serbia EU Acquis compliance project, and offers comparable services in environmental consulting, energy infrastructure, and multi-jurisdictional permitting.
• AFRY: Swedish-Finnish engineering and design consultancy with deep energy (power, hydro, transmission, district heating) and process industry expertise. Comparable scope of multi-disciplinary engineering services for energy and infrastructure clients, with similar European mid-market positioning.
• Fichtner: German engineering consultancy focused on energy infrastructure, power generation, transmission, and environmental projects. Closely comparable in size, ownership independence, and service portfolio to ASPROFOS, serving utilities and industrial clients across Europe, the Middle East, and emerging markets.
• D'Appolonia: Italian engineering consultancy owned by Eni, providing engineering design, project management, environmental studies, and permitting for oil & gas and infrastructure projects. Closest peer by business model — an in-house engineering subsidiary of a major European integrated energy major — directly comparable in size, ownership structure, and service mix.
• RINA: Italy-headquartered international engineering, inspection, certification, and advisory group. Already an active partner with ASPROFOS on FSRU Alexandroupolis, with significant functional overlap in energy infrastructure certification, PMC, and engineering advisory across marine, energy, and infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asprofos