Related Articles
Forward article link
Share PDF with colleagues

Asian advantage drives offshore technology

According to the second of four surveys conducted by Petroleum Economist in partnership with Petronas, Asia is leading the way in upstream oil and gas

In the survey, which was conducted online as well as at OTC Asia in Kuala Lumpur, we found that respondents and delegates were overwhelming in their belief that Asia – and in particular Malaysia – is driving offshore technology developments.

A large number of respondents, 31%, suggested that the continent’s skills and education bases were boosting Asia’s offshore tech attraction on international markets. More than half of the respondents were keen to point out that the region has a geographical advantage, suggesting that current and ongoing offshore oil and gas projects are in a great position to benefit from Asia’s manpower now and in the future.

That bodes well for private organisations operating in the region and driving those projects, but with changes in the energy industry ongoing as part of the reaction to the current global oil-price, much work is still to be done. One potential driver of that change is knowledge-sharing, in which firms collectively deploy their individual expertise to motivate the market. We asked our respondents which areas would be best suited to providing long-term success and the results were clear: sharing technical capabilities could be key for progress.

Regional government input has also had a largely positive impact on offshore technology. Most respondents said that the Asian public sector has had a better than average impact on developing the sector, which is a thorough endorsement of the guidance those governments are providing.

OTC Asia: Day 2 Survey
OTC Asia: Day 2 Survey

With OTC Asia hosted in Malaysia, we wanted to know how the country is doing in terms of oil and gas technology leadership. 93% said the country has the right synthesis of ingredients and incentives to support the energy industry. Clearly, the country is setting its stall to develop as an oil and gas leader.

The next survey is here, conducted in partnership with Petronas.

Also in this section
Egyptian optimism
5 August 2020
One of the more regressive fiscal regimes and a generally challenging environment are not enough to dampen United Oil & Gas’ enthusiasm for the Western Desert.
Somalia announces regulator leadership
2 August 2020
Somali Petroleum Authority board has been approved by the Mogadishu government ahead of licensing round
Central bank holds key to Gabon’s oil future
30 July 2020
If oil companies are forced to hold revenues in the local currency—combined with mandated Opec cuts—the Central African country will struggle to attract the new investment it desires