Page 48: of Offshore Engineer Magazine (Aug/Sep 2015)

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Southeast Asia

Southeast Asia in focus

Despite the downturn, plenty of development is underway in

Southeast Asia.

Audrey Raj sets out the detail.

espite the fall in oil prices,

Southeast Asia (SEA) will see

D investments in offshore projects, which are commercial at the current price of US$65/bbl.

The region, particularly rich in oil

Bach Ho oil feld in Cuu Long basin. Photo from PetroVietnam.

and gas in countries like Malaysia and

Indonesia, will continue to be an increas- timeframe,” she continues. and the commercialization of gas felds ingly important area for global offshore Driven by Malaysia, one key project is throughout the region. developments. the Rotan feld in the South China Sea, “One such key bellwether will be the

SEA has long been a center for con- offshore Sabah. Petronas’ PFLNG-2 is Lengo feld also in Indonesia, which struction and fabrication within the off- being designed for this feld to produce looks to capitalize on the local East Java shore market, while economic advance- some 1.5 MTPA ton of LNG. gas market. But the fnal investment ment and rising energy demand has Offshore Indonesia, Podevyn expects decision (FID) will heavily depend on the spurred on technological development. signifcant deepwater developments long-term contract prices currently under

According to Infeld Systems’ pub- as well, with the capital intensive negotiation,” Gatdula says. lished content analyst, Catarina Podevyn, Gendalo feld holding the largest share of Located 197ft in the Bulu production during the next fve years, SEA is likely expenditure. sharing contract (PSC), the Lengo feld to see growth in the liquefed natural gas Gendalo feld is part of the Indonesia operated by KrisEnergy is estimated to (LNG) sector, with the emergence of the Deepwater Development (IDD) project produce some 70 MMcf/d of gas.

foating LNG (FLNG) technology. consisting of fve felds, including Maha, Furthermore, a report by consulting “Key FLNG projects include Petronas’ Gandang, Gehem and Bangka. frm Frost and Sullivan revealed that

PFLNG-1 and PFLNG-2 units, while we Situated in the Kutal basin, IDD is Malaysia and Indonesia are set to become also expect for expenditure to be required known to be the deepest offshore project the most lucrative markets in SEA’s off- on Indonesia’s Abadi FLNG facility from undertaken in Indonesia, sitting in waters shore oil and gas services sector.

2018 onwards,” Podevyn says. ranging 610-1829m deep. With both countries witnessing the “Deepwater felds are forecast to GlobalData’s Asia-Pacifc senior highest exploration activities, they will comprise an increasing share of SEA’s upstream analyst Joseph Gatdula points become the largest markets for offshore capex demand up to 2020, with expendi- out another emerging trend in the SEA support and pipeline services.

ture demand in deepwater to form 25% offshore sector, which is the continuation The report found that while global of total spending during the 2016-2020 of large scale projects already sanctioned drilling, marine and pipeline support

August 2015 | OE oedigital.com 50 050_OE0815_Geofocus1_Raj.indd 50 7/21/15 9:55 PM