STRATEGIC ANALYSIS OF THE UPSTREAM OIL AND GAS MARKET IN ASIA-PACIFIC
New research reports that Asia-Pacific oil and gas exploration and production is rising as a result of the decline of current oil fields. As fields need to be replaced, declining availability increases the need for exploration projects, meaning energy production is likely to increase in the region over the next few years, as long as exploration is successful.
Investments within the Asia-Pacific market are driven by both national and international oil and gas companies, which have established strong presence in the region, particularly in Malaysia and Indonesia, where many opportunities for marginal and deep water fields lie. Moreover, Malaysia looks set to become the future nerve centre for oil and gas in Asia-Pacific, as investment in downstream infrastructure increases in order to sustain the industry.
With extensive international experience in marginal field development, and an office in Kuala Lumpur, Aquaterra Energy has earned a growing reputation in the region; Ken Crawford, General Manager, Aquaterra Energy Asia-Pacific said: “Although we have historically specialised in shallow water riser analysis, we are seeing increased demand for analysis work for deep water projects and are able to apply our skills and experience here too.
“Production has become more costly in remote areas, making investment opportunities in exploration and production increasingly high risk ventures. As a result, oil and gas equipment suppliers and service companies will see growing demand for high tech engineering, and investors would be wise to implement early project studies and detailed riser analysis, to help keep overall project costs down. Aquaterra Energy’s experience in the region, combined with its innovation in conductor supported platforms and ability to deliver complete projects, from design to installation, means our team is able to deliver a dependable and comprehensive service, on time and on budget.”