Southeast Asia is the sub-region of Asia which comprises the several countries which are located in this geographically such as east of India, south of China, North of Australia and west of New Guinea. Moreover, this region is one of the most compactly inhabited areas across the globe with more than 600 million inhabitants. For instance, many of the countries in this region is majorly depend on the oil and gas as their it is principal source of energy. In the past decades this region has observed a rapid economic growth and the demand of energy has increased significantly in a continuous manner. In Southeast Asia the activity of production and exploration has been started in the beginning of the last century. From this region the recent oil and gas production is still substantially lower than from the other main introducing regions such as the North America, South America and Middle East. Nevertheless, this region has supported its significant role in the energy market around the globe because of the fastest rising economies in the area. Moreover, the recent key players and operators of this market in this region is playing important role by planned and announced upstream projects in the Southeast Asia.
According to the report analysis, ‘Q2 2018 Quarterly Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in Southeast Asia – Indonesia and Malaysia Lead in Upcoming Projects Count’ states that in South Asia, more than 45 key crude oil and natural gas projects are anticipated to begin operations by 2025. Whereas, the Indonesia and Malaysia leads with the highest number of planned projects, followed by Vietnam. Indonesia leads in terms of announced projects followed by Malaysia and Vietnam. In Southeast Asia the key projects are anticipated to underwrite up to 190 mbd to global crude manufacture and more than 8,200 mmcfd to global gas production in 2025. Among the major operators, PERONAS Carigali Sdn Bhd, Sapura Energy Berhad and Eni SpA lead in terms of operatorship of announced and planned projects.
Indonesia has the third highest natural gas resource in Asia after China and Turkmenistan. Countries in the South Asia are not only a significant producer of natural gas but also a key manufacture in the global representation. Indonesia has the huge production of natural gas in the Southeast Asia. Whereas, in 2014, the Indonesia is an effective LNG exporter across the globe while, the Malaysia was the second largest LNG exporter around the world and the second highest natural gas manufacture in the region. In addition, the demand of domestic natural gas has increased exponentially over the present years and on the basis of EIA in 2014 Indonesia was the fifth largest exporter of LNG around the globe after the Malaysia, Qatar, Nigeria and Australia.
The market of oil and gas upstream sector in the Southeast Asia will grow more significantly in the coming years over the recent few years with the more key planned and announced upstream projects.
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Ankur Gupta, Head Marketing & Communications