SOUTH EAST ASIA

(The Asia-Pacific)

 

POPULATION: 525 mm

AREA (on):  km2

OIL PEAK: 2014 (forecast)

 

SUPPLY

Southeast Asian oil production, in the past influenced by Indonesia’s membership of OPEC, has been on a bumpy plateau for some years. However both onshore output, mostly in Indonesia, and offshore output elsewhere, has begun to climb after a brief period of decline in the early part of this decade. This is driven, in part, by new developments in onshore Java and by new deep water fields in Malaysia. A peak is forecast for around 2015 after which deep water developments will be insufficient to offset depletion in older fields.

Gas production is climbing rapidly from most offshore areas and will continue to climb for at least a decade whilst the less significant onshore gas production is declining gently.

 

DEMAND

Consumption of oil in Southeast Asia has been flat since 2004, after growing quite rapidly prior to this since 1998 after the Asian economic crisis. Consumption is expected to remain flat until 2011 before growing a little through to 2016 when it is expected that higher oil prices will restrain demand. Gas consumption is expected to increase strongly.

The region is a net importer of oil with imports peaking in 2007. It is a net exporter of gas (mostly to North Asia as LNG). Exports will plateau between 2010 and 2015 before slowly declining when local demand will limit export capacity.

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this region can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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