Southeast Asia is likely to be one of the world's biggest importers of oil and gas equipment during the next decade, says Scottish Enterprise, Scotland's government economic development body.
In a report on oil and gas opportunities, the Aberdeen agency says more than 2.75 billion ($5.25 billion) of Southeast Asia business will be open to Scottish companies during the next 5 years.
The key to future developments, says Scottish Enterprise, is the utilization of about 140 tcf of proved gas reserves, which mostly will remain undeveloped due to an historical lack of markets and infrastructure.
Current spending on production facilities, operations, and maintenance in Southeast Asia is 2.3 billion ($4.4 billion)/year and is likely to reach 3 billion ($5.7 billion)/year by 2000.
Viet Nam and Philippines are seen as the main emerging regions.
A new bidding round is planned off Viet Nam. Lack of infrastructure and the need to generate oil revenue are likely to create a demand for early production systems including floating production, storage, and offloading and subsea systems.
In Philippines, says the report, "The government has attempted to create incentives for exploration and production, and these are some of the most attractive in Southeast Asia. It appears that Occidental will develop the Camago gas discovery, while majors such as Petrocorp of New Zealand, Shell, and BP are returning to explore."
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