Find out how the market conditions for Energy, Oil and Gas is going to impact SouthEast Asia at the upcoming EIC Connect Energy in Malaysia 2018
With the uptick in the oil and gas industry, Southeast Asia is predicted to benefit massively in terms of its production and capacity. In numbers, that is projected to be an approximate 197 thousand barrels of oil per day (mbd) of global crude production and about 8,219 million cubic feet per day (mmcfd) of global gas production. Both Singapore and Malaysia’s strategic location between the Indian and Pacific Oceans whilst relatively near the Strait of Malacca has allowed them to become Asia’s major petrochemical and refining centres as well as oil trading hubs with many upcoming projects in place.
GlobalData projects an estimate of 130 new oil and gas projects in Asia to commence production by 2025. In support of this, Ernst & Young (EY) also released a report, highlighting the APAC region receiving the largest share of investments made globally.
SEA’s Oil and Gas giant Petronas is predicted to pick up on its level of activities
Malaysian state-owned energy company Petronas is currently looking to launch 20 green-field and 30 brownfield projects. All these green-field projects will have completely new facilities developed, while 10% of the brownfield projects may require new facilities.
30% of both green-field and brownfield projects that are new will be for oil while 75% of the brownfield projects have the potential to yield more oil.
TL Offshore, the specialist installation subsidiary of Sapura Energy;
A joint venture between Hilong Marine and Brooke Dockyard;
Barakah Offshore Petroleum subsidiary PBJV Group;
A joint venture between Alam Maritim and Vallianz
Upstream units at its complex in Johor, including the stream cracker to be operated by Petronas Refinery & Petrochemical Corporation (PRPC) is also scheduled to start in the first quarter of 2019, with commercial operations due in the first half of the same year.
The cracker is expected to produce 1.3m tonnes per year of ethylene; 609,000 tonnes per year of propylene; 250,000 tonnes per year of raffinate-1; and 185,000 tonnes per year of butadiene (BD).
First crude oil refinery in Malaysia
Petroliam Nasional Bhd's Pengerang Integrated Complex (PIC) is expected to reach 98% completion by the end of 2018 from the current 84%.
Overall, the project's progress with 63,000 workers on site is on-track to begin operations in the first quarter of 2019.
Datin Anita Azrina Abdul Aziz, Head of Stakeholder, Communication and Risk Management Decision in PIC Refinery and Petrochemical Corp (PRPC) said the full operations will commence two to three months after the start of the project.
PIC, which covers 6,242 acres and involves up to 70,000 personnel from 65 different nationalities working towards the final leg of construction, is projected to take some 350 million man hours to complete.
Currently, Petronas is looking for potential investment opportunities that suits the requirement of the packages.
Challenges ahead: Deficit in talent
The theme of the conference this year is ‘Energy Market Outlook’ and ‘Development and Opportunities’. With the heightened project activity in the global oil and gas sector exerting pressure on key resources such as labour, this has resulted in a struggle to secure the capabilities, capacity and expertise required to effectively manage their most challenging projects.
The challenge of securing resources is aggravated by the rising complexity of projects, increasingly stringent local content regulations in emerging economies, and a gradual shift in focus to unconventional projects, where the talent pool is under even greater strain.
As such, we hope to partner with the community in ways which Progressive Recruitment is able to assist with – especially within the sourcing of talent.
How can Progressive help?
If your organisation is looking to hire more talent to support your existing or upcoming projects and you would like to get a head-start on sourcing for relevant talent, you may contact us or arrange for a meeting at the event. Likewise, if you are a candidate looking to discover new openings in the market or would like uncover what your skill-set can bring you, do reach out to us at [email protected].
Find out more from us at the upcoming EIC Connect Energy Malaysia on possible ways which we could assist, at a more cost-efficient solution, and follow us on our LinkedIn page for more updates.
What is EIC?
The Energy Industries Council’s (EIC) not-for-profit event is designed to bring the leading operators, developers and OEMs from across the region to talk about the various opportunities for the supply chain in their current and upcoming projects in the energy sector.