Emerging markets, many of them in Asia Pacific, are expected to account for more than 90 per cent of this growth 1.
In Asia, soaring demand for gas from China as part of the government's mandate to curb pollution and healthy economic growth across the region, has seen a well-documented shift towards offshore gas production.
Geographically, the Rakhine basin in North Myanmar has been something of a bright spot for new frontiers, and it has seen significant investment in both exploratory drilling and onshore infrastructure.
In total, the region has 47 crude and natural gas projects expected to start operations in six countries from towith key projects expected to contribute about thousand barrels of oil per day mbd of global crude production and about 8, million cubic feet per day mmcfd of global gas production.
This is because local long-cycle offshore developments will take time to translate into substantial volumes of work for the supply chain. It is also critical for regional players to fully grasp the global geopolitical and macroeconomic environment currently shaping higher oil prices to effectively navigate the local landscape.
Outside Southeast Asia, it has been something of a rollercoaster over the past nine months with various push and pull factors. OPEC may begin to taper the 1. Venezuela has also been a geopolitical wildcard where the fallout from the ongoing political crisis has seen crude production fall from an average of 2mboped in to a reported 1.
This fall has seen the OPEC member fail in meeting contractual export obligations to key demand centres such as India, which is undoubtedly playing a significant role in the current oil price rally.
With numerous "false dawns" over the past three to four years, what the offshore market needs is a period of stability.
Any offshore business that has survived the past 48 months has certainly been doing many things right.
However, as the industry heats up over the next months, it will be tempting to adopt more aggressive commercial strategies to improve revenues and earnings.
Despite this, we believe that successful businesses in the coming year will remain focused on utilisation in their core areas of competence. He will be delivering the keynote titled 'Keynote:Offshore E&P Summit Myanmar , organized by the Shanghai Influnce Corp. Ltd., will take place from 11th June to the 12th June in Yangon, Myanmar.
OSEA Conference speaker, Thom Payne, Director, Westwood Global Energy Group shares his insight on the timing of a substantial market recovery in Southeast Asia and the mid-long term outlook for regional E&P activity amid macroeconomic forces shaping higher oil prices..
SINGAPORE, Oct. 2, /PRNewswire/ -- It has taken three years since 's fall in oil prices and protracted down cycle.
May 06, · News Archive for May 6, China and South Africa are set to launch a contingency fund during a July summit in Brazil, Brazilian Finance Minister Guido Mantega said. E&P . South Korea's first floating offshore turbine to trial in 16 weeks ago.
7 June | Kyaukse, Mandalay, Myanmar. GE launches distributed power business in Jakarta, Indonesia. 25 February 2nd India Nuclear Energy Summit August , - India.
Sales TMK participated in «OSEA » TMK took part in the Offshore Asia Exhibition (OSEA ), held from December in Singapore, one of the largest and leading offshore events for the oil and gas industry in Southeast Asia. read more. (Malaysia). The exhibition is the region’s premier event for the offshore E&P.
Business summit calls for investigation of threats to Panama's public prosecutors. The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) today urged Attorney General Kenia Porcell "to initiate the corresponding investigations" against the denunciation of the own Official that prosecutors investigating high profile corruption cases are being threatened.