The global oil and gas industry is slowly picking up pace, and countries are putting initiatives in place to further rejuvenate the industry. Singapore companies in the marine and offshore engineering field can also capitalise on the growth potential in liquefied natural gas and offshore renewables to diversify and expand overseas.
You have a competitive advantage in your overseas ventures, as Singapore companies are known as global leaders in our marine and offshore product offerings. The dominant global market share of Singapore businesses reflects our quality, reliability, and ability to deliver technologically advanced products.
The ice-class Floating Storage and Offloading vessel is an example of a Singapore business being a global leader in the design and building of ice-class vessels that are used in the Arctic’s harsh weather conditions.
Bank on Singapore’s reputation and capability to deliver products across the entire value chain from upstream to midstream. From exploration to production, subsea to marine, offshore construction to turnkey projects, Singapore companies offer a full suite of integrated solutions for the marine and offshore industry.
Southeast Asia has become a major economic force in Asia and a driver of global growth. It has a population of more than 600 million and a GDP of US$2.31 trillion (S$3.11 trillion).
When you expand your business into Southeast Asia, conduct extensive due diligence on local partners to identify a best fit with your business offerings. You may also wish to engage a reputable legal and tax advisory to help craft any joint venture arrangement.
There are opportunities for you to cultivate strong working relationships with main contractors and oil companies in the region. It helps to be within their radar when project tenders are called
Want to discover more business opportunities in Southeast Asia? Learn how you can benefit from potential tax savings under the ASEAN Free Trade Agreement.
Indonesia’s oil and gas sector is a major pillar of the country’s economy. The Indonesian government plans to add 13,432 MW of gas-fired power which requires US$24.3 billion (S$32.8 billion) of infrastructure investment.
Indonesian national oil company Pertamina’s national fuel diversification programme presents your business with opportunities to retrofit diesel dual-fuel kits on mining trucks, road tankers, rail cars and compressed natural gas (CNG) converter kits for small vehicles.
You can also explore opportunities in the private sector’s demand for mini liquefied natural gas (LNG) infrastructure and gas-fired power generation to support remote project locations. These projects also require compatible LNG barges and small-scale carriers.
The Indonesian government’s commitment to increase oil production will raise the levels of oil and gas exploration and production activity in Indonesia.
Natural gas plans are also gaining traction, with expansion projects in the pipeline.
There is great potential for your business to consider opportunities in increasing oil storage capacity, integrated refinery and petrochemical development, and encouraging greater collaboration between upstream and downstream players to accelerate capacity expansion.
Learn how you can expand into the Indonesian market, to capture a slice of the oil and gas business.
Myanmar is one of the fastest growing economies in Southeast Asia. The World Bank estimates its Gross Domestic Product (GDP) to grow about 7% from 2018 to 2020.
There are many maritime opportunities for your business in Myanmar as it has both large and low-lying deltas and large river systems. Inland river transport is one of the main modes of transport.
With the rapid economic development in Myanmar, your business can tap on many maritime opportunities in the areas of port development, fisheries, shipping and offshore developments.
As Myanmar industrialises, there will be an increasing demand for fuel. This means industrial zones in outlying areas would require improved access to electricity. The government is also encouraging the building of captive power plants to provide a localised source of power in industrial zones. This may be best served by small-scale LNG distribution. Myanmar may also import LNG, creating demand for downstream LNG infrastructure.
You can explore opportunities in building and operating assets required for small-scale LNG.
There is potential for M&OE companies to invest in projects to help Myanmar tap its rich offshore gas deposits. Tender processes are now more structured and transparent, making it easier to do business there.
Find out the business potential of the newly opened economy in Myanmar and how you can enter the Myanmar market.
Brazil’s state-run oil company Petrobras has a five-year plan from 2018 to 2022. Part of this plan is to invest US$74.5 billion (S$100.6 billion), of which 81% will go into the exploration and production process.
Petrobras will also double the size of its deployed fleet of production platforms and supply vessels by 2021. It is expected to procure nearly 200 vessels and 50 production platforms for this purpose. Your company can ride on these investment plans to expand into Brazil.
Read about the huge oil and gas opportunities in Brazil.
The Mexico government plans to revitalise the country’s oil and gas industry. It implemented energy reforms in 2008 to rejuvenate Pemex, a Mexican state-owned petroleum company that is one of the largest petroleum companies in the world.
In March 2011, Pemex conducted Mexico’s first production licensing round in more than 70 years, with 20 blocks tendered to international bidders. Pemex also launched two rounds of incentive-based contracts in August 2011 and January 2012, which attracted the interest of companies like Chevron, Baker Hughes and Halliburton.
Pemex plans to invest US$269 billion (S$329 billion) to increase oil production to 3.3 million barrels per day by 2024. Your business can take advantage of opportunities in the resulting surge in offshore exploration and production activity, as well as Pemex’s plans that will require an additional 18 drilling rigs and 84 Offshore Support Vessels.
Don’t miss out on emerging opportunities in Mexico, one of the most promising economies in Latin America.