Southeast Asia: `A robust market`

Journal Article · Tue Apr 01 04:00:00 EST 1997 · Sea Technology

OSTI ID:530452

Pagano, S S ^[1]

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1. ed.; Offshore Data Services Inc., Houston, TX (United States)

Southeast Asia is emerging as a robust market for exploration and field development activities. While much of the worldwide attention is focused on lucrative deep water drilling and production in the U.S. Gulf of Mexico, Brazil, and West Africa, the burgeoning Pacific Rim region is very much in the spotlight. As the industry approaches the next century. Southeast Asia is a key growth area that will be the focus of extensive drilling and development. Regional licensing activity is buoyant as oil and gas companies continue to express interest in Southeast Asian opportunities. During 1996, about 75 new license awards were granted. This year, at least an equal number of licenses likely will be awarded to international major and independent oil companies. In the past five years, the number of production-sharing contracts and concessions awarded declined slightly as oil companies apparently opted to invest in other foreign markets. Brunei government officials plan to open offshore areas to licensing in 1997, including what may prove to be attractive deep water areas. Indonesia`s state oil company Pertamina will offer 26 offshore tracts under production-sharing and technical assistance contracts this year. Malaysia expects to attract international interest in some 30 blocks it will soon offer under production-sharing terms. Bangladesh expects to call for tenders for an unspecified number of concessions later this year. Nearby, bids were submitted earlier this year to the Australian government for rights to explore 38 offshore areas. Results are expected to be announced by mid-year.

• OSTI ID: 530452
• Journal Information: Sea Technology, Journal Name: Sea Technology Journal Issue: 4 Vol. 38; ISSN 0093-3651; ISSN SEATAD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
03 NATURAL GAS
ASIA
MARKET
NATURAL GAS
OFFSHORE OPERATIONS
OIL WELLS
PETROLEUM
PETROLEUM INDUSTRY
PRODUCTION
WELL DRILLING