As demand for Oil and Gas imports in
the U.S. falls, many are searching new horizons to export to, and
many are turning towards the Asia – Pacific Market1.
There is no denying that Asian oil
consumption will continue to rise for years to come. China recently signed a contract for 400,000 Mcf/day gas
from the deep-water Shwe
project in the Bay of Bengal to be delivered via the Myanmar/China
pipeline2.
Energy demand is projected to
almost double in the region by 2030, not only will Asia continue to
import oil and gas, but also produce substantial quantities. Some
would argue that Asia is beginning to overtake its less stable
Middle East counterpart.
IOC's have been quick to snap up
exploration blocks within the region.
Indian
Oil Ltd
is currently exploring the available opportunities to
expand into Asia3. Myanmar in particular offers a
number of investment opportunities. Despite being one of the world's
oldest oil producers, Myanmar's upstream sector is largely
underdeveloped. Yet, with 10 million cubic feet
of Natural gas to offer and another 50 million barrels of cruide oil,
many IOCs are optimistic4.
Myanmar frequently holds offshore licensing rounds, in April-June
this year, 61 oil and gas
companies pre-qualified. The list of pre-qualified companies included
international majors such as ExxonMobil,
ConocoPhillips, Shell, Total, Statoil, Eni and Repsol. A further 18
onshore blocks will be awarded in December 2013. It is clear that
since US sanctions were lifted and President Thein Sein took power, investor opinion has improved
considerably 5.
The
latest investment opportunities will be examined at the Asia Oil &Gas Awards 2013 ceremony which will be hosted alongside the 2-day
Asia Offshore Oil and Gas Summit
and the Bay of Bengal & Andaman Sea Oil and Gas Summit 18-19
November 2013 in Bangkok. These two unique events will bring together
some of the world's leading industry professionals, including Energy
ministers, Senior Oil and Gas company representatives, Contractors,
Service Companies and Solution Providers. A number of awards will
recognise, for instance, Exploration & Production Company of the
Year, Local Content Initiative of the Year, CSR Initiative of the
Year, Drilling & Well Services Company of the Year and Oil &
Gas Logistics Company of the Year.
Keynote
speakers include:
Dr. Pyasvasti Amranand,
Former Minister of Energy and Mineral Resources of Thailand &
Chairman of the Energy for Environment Foundation; Dr.
Siri Jirapongphan, Executive
Director, Petroleum Institute of Thailand (PTIT); Dr.
Andrzej Bolesta, Economic
Counsellor, Embassy of the Republic of Poland in Bangkok; Michael
Mcwalte, Petroleum Advisor to
Governments of Cambodia and Papua New Guinea; U
Naing Maw Than, Vice President,
Myanmar Geologists Society, Singapore (MGSS) and Chris
Faulkner, CEO, Breitling Energy,
plus many more!
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