Asia is one of the most dynamic regions in the global energy sector. Several factors including robust economic progress and demographic advancement have led to incredible growth over the last few years, with expectations of continued high demand in the short-, medium- and long-term. China has been the main market of energy growth. Across Asia the electrification of the region’s rural population will be the main driver for energy demand.
The current remaining unconventional gas reserves is approximately equal with the estimated conventional gas resources of around 138 TCF. This is based on ~120 Coal Bed Methane (CBM) wells currently drilled in Indonesia. As more wells are drilled, we expect unconventional gas resources move closer to the estimated gas in place of 453 TCF. Rising national energy demand coupled with declining conventional gas production have significantly increased the role unconventional gas (CBM) will play to fulfil clean energy demand in Indonesia.
The Oil & Gas Council hosted our flagship event, World Oil & Gas Week in London on December 4-5 2017. With over 700 of our members from across the upstream oil and gas industry, financiers and investors, the conversation was flowing at a wide range of networking opportunities culminating in the annual Awards Dinner.
With over 80 speakers taking part in discussions over two streams, the Assembly provided interesting insights into what the future holds for stakeholders across the industry. A number of recurring themes emerged over the two days, with the outlook on the whole generally positive and some interesting times ahead as we approach what could be a new era for the oil and gas industry.
A report earlier this year by the Japan Fair Trade Commission (often called the ‘JFTC’) has set tongues wagging in the Asian LNG industry.
It shouldn’t be a surprise anymore, but energy development is only truly meaningful for local economy and communities when small -and mid-caps are present and striving.
Iran has the world’s fourth largest proven crude oil reserves at 158 billion barrels (after Venezuela, Saudi Arabia, and Canada) and the world’s first proven natural gas reserves at 1,183 trillion cubic feet.
The number of new gas to power (G2P) project announcements has swelled in recent months across diverse markets, including Asia, Africa and Europe — but potential challenges need to be considered.
Since a couple of years, our clients are having to transform as the market is adapting. The focus is on lower field development and operations costs, quicker project life cycle, shorter schedule, reduced risk profile, all of which will improve their projects economics.
I suppose a good place to start would be about a year before the oil price fell, in 2013. We noticed at that time that the industry cost structure had become severely inflated.
Independent producers are a key category of customers for us. We can help them detect early on when a market is about to get weaker and become a buyer’s market, as well as when a market’s about to get stronger and become more of a seller’s market.
As a graduate interested in energy economics the oil & gas industry was very exciting – the obvious place for me to look to start my career.
While BD Globe Capital has been providing investment and smart capital solutions to the energy sector worldwide for years now, we have a particular focus at present on ‘upstream Nigeria’, no doubt having been of great interest to us for the last 7 years.
In a way, I can say that I have been involved in the industry throughout my career. In the 80s, the geological unit was involved in oil and gas amongst other things.
By accident (laughs). In my position as Permanent Secretary of Energy and Economic Affairs in early 2000, I was also the head of the Policy Analysis Unit, Department of Geology and Commission of Petroleum.
Over the past few years, we’ve seen some of our biggest Chinese counterparts evolve their position in overseas markets, including: upstream and shipping.