Offshore Oil & Gas Developments in Asia Pacific - Burgeoning Energy Demand Drives Exploration and Production Activities

This is the latest report that analyzes the increasing exploration and production activities in the Asia Pacific region. The report also provides information on the exploration and production activities in the Asia Pacific and analyses the key drivers behind the growth in upstream oil and gas activities in the region. The report analyses in detail the roles of NOCs, IOCs and independent E&P companies in the region’s oil and gas industry. The countries in Asia-Pacific are increasing their offshore exploration and production (E&P) activities in order to increase their domestic production of energy resources and reduce their rising dependency on imported oil and gas. Countries in the region are witnessing increasing import dependency for oil and gas amidst their rising energy consumption, which is being driven by rapid economic development.

Scope

The report explains the rationale behind the rise in offshore activities in the Asia-Pacific region, providing information and analysis on:

• Oil and gas exploration and production activities in terms of reserves, production and discoveries in Asia-Pacific
• The economics of offshore exploration in the Asia Pacific
• The rise in demand for oil and gas in the Asia-Pacific
• Major E&P activity centers in this region
• Major growth drivers and challenges to the development of offshore E&P in the Asia-Pacific.
• Major companies involved in offshore E&P activities in the Asia Pacific

Reasons to Buy

• Identify potential investment targets based on the exhaustive information on reserves, production, government policies and ongoing projects, supported by in-depth analysis on each of the offshore E&P projects in Asia Pacific.
• Devise business strategies based on the understanding of key drivers and inhibitors for offshore E&P activities in Asia Pacific.
• Identify partnering opportunities with companies operating in these expanding markets.

Additional Information:

Rising Need to Reduce Dependency on Import Drives Asia-Pacific Countries to Boost Oil and Gas Production through Offshore Activities

The need to reduce dependency on imported oil and gas is leading countries in Asia-Pacific to increase their domestic production of energy resources by increasing offshore exploration and production (E&P) activities. Countries in the region are witnessing increasing import dependency for oil and gas amidst their rising energy consumption, which is being driven by rapid economic development.

Over the last decade, the Asia-Pacific region has witnessed the fastest economic growth among all the regions of the world, primarily driven by the emerging economies in the region, such as China, India, Indonesia and Thailand. This rapid economic growth has resulted in a sharp increase in the consumption of energy resources in the key economies of Asia-Pacific, led by China, India, Indonesia and Thailand. An increase in oil and gas consumption coupled with limited domestic supply has led to the increasing import dependency of these countries for their oil and gas requirements.

In such a scenario, emerging economies have been taking a multipronged approach to ensuring their energy security. Key steps in this pursuit include increasing the domestic production of oil and gas through development of unconventional resources, developing conventional resources in the offshore areas, and ensuring a supply of oil and gas from international markets through investing in unconventional and conventional oil and gas projects in international markets.


Offshore Oil and Gas Activities Growing in Response to Declining Output in Onshore Fields

The oil and gas output from onshore fields are witnessing a decline which is resulting in an emphasis on exploration activities in offshore areas. Asian countries such as Vietnam, Malaysia, Thailand, India and Australia have been increasing their exploration activities in offshore areas in the recent past. Besides decreasing output from onshore areas in the current market context, another major deterrent for onshore E&P activities is the difficulty in acquiring land in most countries due to resettlement and compensation issues. Access to technology and finance, which had hindered development of offshore E&P activities in the past, are no longer issues for developing Asian countries.

FPSOs to Commercialize Small Offshore Oil and Gas Fields in Asia Pacific

In the Asia-Pacific region, there is an increasing usage of floating production storage offloading (FPSOs) vehicles for commercializing small oil and gas fields in offshore areas. FPSOs, vessels designed to perform the tasks of production, separation, storage and transportation of hydrocarbon, are used in deep seas where the reserves are low and setting up a fixed platform may not an economically viable option. It has been observed that among Asia-Pacific countries, China, Australia, Indonesia and Vietnam are the main countries that use FPSOs for developing their small oil and gas fields, while other countries are minor players.

Offshore Oil and Gas Resources Development to be Challenged by Territorial Disputes

A factor that may negatively impact the growth prospects of offshore oil and gas exploration and production in the Asia-Pacific region are territorial disputes between neighboring countries. This is evidenced in the territorial dispute between PetroVietnam (Vietnam) and OVL (India) in the South China Sea, where offshore oil and gas activities have been impacted due to the territorial claims of the littoral states. The two companies collaborated to explore some of the blocks of South China Sea, but the agreement between OVL and PetroVietnam drew opposition from China, claiming the development to be a violation of its sovereignty. Prior to this deal, it had been reported by various media outlets that some International Oil Companies (IOCs) had been advised by certain littoral states to abandon their oil and gas exploration deals with Vietnam.

1 Table of Contents  
1.1 List of Tables  
1.2 List of Figures  

2 Introduction  
2.1 Overview  
2.2 GlobalData Report Guidance  

3 Rapid Increase in Oil and Gas Demand in Asia-Pacific Provides Fillip to Offshore Exploration and Production  
3.1 Oil and Gas Demand-Supply imbalance in Asia-Pacific - Rapid Economic Growth Necessitates Higher Energy Consumption  
3.2 Asia-Pacific Countries Have Been Focusing on Offshore Oil and Gas Developments to Boost Production and Reduce Import Dependence  

4 Offshore Oil and Gas Development - Key Drivers and Issues  
4.1 Declining Onshore Output Driving Growth of Offshore Oil and Gas Activities  
4.2 Quest for Energy Security by Most Countries Is Resulting in Higher Investments in Asia-Pacific Offshore Oil and Gas Developments  
4.3 FPSO Technology Is Facilitating Commercialization of Small Oil and Gas fields in Offshore Asia  
4.4 Territorial Disputes Between Nations may Hinder Development of Offshore Oil and Gas Resources  
4.5 Concerns Pertaining to Oil Spills and High Sea Accidents Hamper Development of Offshore Region  
4.6 Offshore E&P Activities Pose Threat to Marine Environment  

5 Major Offshore Areas in Asia-Pacific  
5.1 South China Sea (Vietnam, China, Philippines, Malaysia and Indonesia)  
5.2 Caspian Sea Region (Azerbaijan, Kazakhstan and Turkmenistan)  
5.3 West Australian Coast (Australia)  
5.4 Eastern Coast of India (Bay of Bengal)  

6 Offshore Developments in Major Asia-Pacific Countries  
6.1 Australia  
6.1.1 An Overview of Offshore Oil and Gas Developments in Australia  
6.1.2 Key Offshore Exploration and Production Areas  
6.1.3 Key Offshore Discoveries in Australia, 2008-October 2011  
6.1.4 Key Companies Involved in Offshore Oil and Gas Development in Australia  
6.2 China  
6.2.1 An Overview of Offshore Oil and Gas Developments in China  
6.2.2 Key Offshore Exploration and Production Areas  
6.2.3 Key Offshore Discoveries in China, 2005 - 2010  
6.2.4 Key Companies Involved in Offshore Oil and Gas Development in China  
6.3 India  
6.3.1 An Overview of Offshore Oil and Gas Developments in India  
6.3.2 Key Offshore Exploration and Production Areas  
6.3.3 Key Offshore Discoveries in India, 2007 - October 2011  
6.3.4 Key Companies Involved in Offshore Oil and Gas Development in India  
6.4 Indonesia  
6.4.1 An Overview of Offshore Oil and Gas Developments in Indonesia  
6.4.2 Key Offshore Exploration and Production Areas  
6.4.3 Key Offshore Discoveries in Indonesia, 2006 - October 2011  
6.4.4 Key Companies Involved in Offshore Oil and Gas Development in Indonesia  
6.5 Malaysia  
6.5.1 An Overview of Offshore Oil and Gas Developments in Malaysia  
6.5.2 Key Offshore Exploration and Production Areas  
6.5.3 Key Offshore Discoveries in Malaysia, 2006 - October 2011  
6.5.4 Key Companies Involved in Offshore Oil and Gas Development in Malaysia  
6.6 Philippines  
6.6.1 An Overview of Offshore Oil and Gas Developments in the Philippines  
6.6.2 Key Offshore Exploration and Production Areas  
6.6.3 Key Offshore Discoveries in the Philippines, 2008 - 2011  
6.6.4 Key Companies Involved in Offshore Oil and Gas Development in the Philippines  
6.7 Thailand  
6.7.1 An Overview of Offshore Oil and Gas Developments in Thailand  
6.7.2 Key Offshore Exploration and Production Areas  
6.7.3 Key Offshore Discoveries in Thailand, 2006 - October 2011  
6.7.4 Key Companies Involved in Offshore Oil and Gas Development in Thailand  
6.8 Vietnam  
6.8.1 An Overview of Offshore Oil and Gas Developments in Vietnam  
6.8.2 Key Offshore Exploration and Production Areas  
6.8.3 Key Offshore Discoveries in Vietnam, 2007-October 2011  
6.8.4 Key Companies Involved in Offshore Oil and Gas Development in Vietnam  

7 Appendix  
7.1 Market Definition  
7.2 Abbreviations  
7.3 Methodology  
7.4 Coverage  
7.4.1 Secondary Research  
7.4.2 Primary Research  
7.4.3 Expert Panel Validation  
7.5 Contact Us  
7.6 Disclaimer  
7.7 Sources

List of Figures:
Figure 1: Global, Real GDP Growth Rate (at Constant Prices) by Regions, 2005 - 2010  
Figure 2: Asia-Pacific, GDP Growth Rate of Major Countries, 2006-2010  
Figure 3: Asia-Pacific, Key Economies, Consumption and Production of Oil and Gas, MMboe, 2010  
Figure 4: Asia-Pacific, Key Economies, Oil and Gas Imports, MMboe, 2006 and 2010  
Figure 5: South China Sea, Territorial Claims by Littoral Countries  
Figure 6: Offshore Asia-Pacific, South China Sea, Location Map, 2011  
Figure 7: Offshore Asia-Pacific, Gulf of Thailand, Location Map, 2011  
Figure 8: Offshore Asia-Pacific, Caspian Sea, Location Map, 2011  
Figure 9: Offshore Asia-Pacific, West Australian Coast, Location Map, 2011  
Figure 10: Offshore Asia-Pacific, Bay of Bengal, Location Map, 2011  
Figure 11: Offshore Asia-Pacific, Australia, Carnarvon Basin, Location Map, 2011  
Figure 12: Offshore Asia-Pacific, Australia, Browse Basin, Location Map, 2011  
Figure 13: Offshore Asia-Pacific, Australia, Browse and Bonaparte Basin, Location Map, 2011
Figure 14: Offshore Asia-Pacific, Australia, Bass Strait Basin, Location Map, 2011  
Figure 15: Offshore Asia-Pacific, China, Bohai Bay, Location Map, 2011  
Figure 16: Offshore Asia-Pacific, China, Pearl River Mouth Basin, Location Map, 2011  
Figure 17: Offshore Asia-Pacific, India, Bombay Offshore Basin, Bombay High, Location Map, 2011  
Figure 18: Offshore Asia-Pacific, India, Krishna Godavari (KG) Basin, Location Map, 2011  
Figure 19: Offshore Asia-Pacific, Indonesia, West Natuna, Location Map, 2011  
Figure 20: Offshore Asia-Pacific, Indonesia, Kutei Basin, Location Map, 2011  
Figure 21: Offshore Asia-Pacific, Malaysia, Sabah Basin, Sarawak Basin and Malay Basin, Location Map, 2011  
Figure 22: Offshore Asia-Pacific, Philippines, Northwest Palawan, Location Map, 2011  
Figure 23: Offshore Asia-Pacific, Thailand, Pattani Basin and Malay Basin, Location Map, 2011  
Figure 24: Offshore Asia-Pacific, Vietnam, Cou Long Basin and Song Hong Basin, Location Map, 2011

List of Tables:
Table 1: Key Economic Regions of the World, Real GDP (at Constant Prices), Percentage, 2005 - 2010  
Table 2: Asia-Pacific, Key Countries, Real GDP (at Constant Prices), Percentage, 2006 - 2010  
Table 3: Asia-Pacific, Key Economies, Real GDP (at Constant Prices), US$ bn, 2005 - 2010  
Table 4: Offshore Asia-Pacific, FPSOs Used for Oil and Gas Production by Countries, 2011  
Table 5: Offshore Asia-Pacific, South China Sea, Major Offshore Oil and Gas Exploration Blocks, 2011  
Table 6: Offshore Asia-Pacific, South China Sea, Major Offshore Oil and Gas Production Fields, 2010  
Table 7: Offshore Asia-Pacific, Gulf of Thailand, Major Offshore Oil and Gas Exploration Blocks, 2011  
Table 8: Offshore Asia-Pacific, Gulf of Thailand, Major Offshore Oil and Gas Production Fields, 2010  
Table 9: Offshore Asia-Pacific, Caspian Sea, Major Offshore Oil and Gas Exploration Blocks, 2011  
Table 10: Offshore Asia-Pacific, Caspian Sea, Major Offshore Oil and Gas Production Fields, 2010  
Table 11: Offshore Asia-Pacific, West Australian Coast, Major Offshore Oil and Gas Exploration Blocks, 2011  
Table 12: Offshore Asia-Pacific, West Australian Coast, Major Offshore Oil and Gas Production Fields, 2010  
Table 13: Offshore Asia-Pacific, Eastern Coast of India, Major Offshore Oil and Gas Exploration Blocks, 2011  
Table 14: Offshore Asia-Pacific, Eastern Coast of India, Major Offshore Oil and Gas Production Fields, 2010  
Table 15: Offshore Asia-Pacific, Australia, Offshore Oil and Gas Discoveries, 2008 - October 2011  
Table 16: Offshore Asia-Pacific, China, Major Offshore Oil and Gas Discoveries, 2005 - October 2011  
Table 17: Offshore Asia-Pacific, China, Offshore Oil and Gas Production Assets of CNOOC Ltd., 2010  
Table 18: Offshore Asia-Pacific, India, Offshore Oil and Gas Discoveries, 2007 - October 2011  
Table 19: Offshore Asia-Pacific, India, Major Offshore Oil and Gas Exploration Blocks, ONGC Ltd., 2011  
Table 20: Offshore Asia-Pacific, India, Major Offshore Oil and Gas Production Fields, ONGC Ltd., 2010  
Table 21: Offshore Asia-Pacific, India, Major Offshore Oil and Gas Exploration Blocks, Reliance Industries Ltd., 2011  
Table 22: Offshore Asia-Pacific, India, Major Offshore Oil and Gas Production Fields, Reliance Industries Ltd., 2010  
Table 23: Offshore Asia-Pacific, Indonesia, Offshore Oil and Gas Discoveries, 2006 - October 2011  
Table 24: Indonesia, Major Offshore Oil and Gas Exploration Blocks, ENI S.p.A, 2011  
Table 25: Indonesia, Major Offshore Oil and Gas Exploration Blocks, Premier Oil plc, 2011  
Table 26: Indonesia, Major Offshore Oil and Gas Exploration Blocks, Total S.A, 2011  
Table 27: Indonesia, Major Offshore Oil and Gas Exploration Blocks, ConocoPhillips, 2011  
Table 28: Indonesia, Major Offshore Oil and Gas Exploration Blocks, PT Pertamina, 2011  
Table 29: Indonesia, Major Offshore Oil and Gas Production Fields, PT Pertamina, 2010  
Table 30: Offshore Asia-Pacific, Malaysia, Offshore Oil and Gas Discoveries, 2006 - October 2011  
Table 31: Offshore Asia-Pacific, Malaysia, Major Offshore Oil and Gas Exploration Blocks, Petronas, 2011  
Table 32: Offshore Asia-Pacific, Malaysia, Major Offshore Oil and Gas Production Fields, Petronas, 2010  
Table 33: Offshore Asia-Pacific, Philippines, Offshore Oil and Gas Discoveries, 2008 - 2011  
Table 34: Offshore Asia-Pacific, Philippines, Major Offshore Oil and Gas Exploration Blocks, Nido Petroleum Ltd., 2011  
Table 35: Offshore Asia-Pacific, Philippines, Major Offshore Oil and Gas Production Fields, Nido Petroleum Ltd., 2010  
Table 36: Offshore Asia-Pacific, Thailand, Offshore Oil and Gas Discoveries, 2006 - October 2011  
Table 37: Offshore Asia-Pacific, Thailand, Major Offshore Oil and Gas Exploration Blocks, Chevron Corporation, 2011  
Table 38: Offshore Asia-Pacific, Thailand, Major Offshore Oil and Gas Production Fields, Chevron Corporation, 2010  
Table 39: Offshore Asia-Pacific, Thailand, Major Offshore Oil and Gas Exploration Blocks, PTT Exploration & Production , 2011  
Table 40: Offshore Asia-Pacific, Thailand, Major Offshore Oil and Gas Production Fields, PTT Exploration and Production, 2010  
Table 41: Offshore Asia-Pacific, Thailand, Major Offshore Oil and Gas Exploration Blocks, Pearl Oil (Thailand) Ltd., 2011  
Table 42: Offshore Asia-Pacific, Thailand, Major Offshore Oil and Gas Production Fields, Pearl Oil (Thailand) Ltd., 2010  
Table 43: Offshore Asia-Pacific, Vietnam, Offshore Oil and Gas Discoveries, 2007 - October 2011  
Table 44: Offshore Asia-Pacific, Vietnam, Major Offshore Oil and Gas Exploration Blocks, PetroVietnam, 2011  
Table 45: Offshore Asia-Pacific, Vietnam, Major Offshore Oil and Gas Production Fields, Petrovietnam, 2010