Western Asia Leads Region in Oil and Gas Production Projects, Southeast Asia Shows Development

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Researched by Industrial Info Resources East Asia (Kofu-shi, Japan)--Though Asia does not hold the top position for most tracked oil and gas production projects, nor is it leading in project investments, it does represent a hefty portion of Industrial Info's coverage. Currently, Asia accounts for approximately 23% of Industrial Info's capital oil and gas production projects, while Oceania and North America account for 14% and 55%, respectively. Oceania represents the largest investments, while North America has the most tracked projects.

Oceania is home to the world's largest liquefied natural gas (LNG) projects, with recognizable names such as Wheatstone, Gorgon, Ichthys and Gladstone. Though project numbers are less than 100, Oceania oil and gas production is looking at $287 billion in investments, most of which will not come to fruition until 2014 or later. North America, on the other hand, represents a mature market. Less than 30% of tracked North American projects are grassroot in nature. However significant investments, ranging above $1 billion or more each, are being pushed at LNG, crude oil and bitumen projects.

Oil and gas production development in Asia is being lead by Western Asia, as it has been for years. Of the region's $231 billion in investments, more than $190 billion is directed toward Western Asia. Approximately $122 billion in projects are under construction, with several large projects scheduled for completion by the end of this year, including Phase II of the Ras Laffan gas-to-liquids production train expansion in Qatar. Another 20 projects are scheduled to begin during the fourth quarter of 2011, with the Hout offshore gas production platform in Saudi Arabia representing one of the largest investments.

Southeast Asia is also becoming a promising oil and gas production area, mainly due to extensive LNG development. Most of the market region's $32 billion in project investments will be developed in Indonesia. Two of the largest projects on the books are a floating LNG production plant and an LNG liquefaction facility headed by Inpex Corporation (TYO:1605) (Tokyo) and BP plc (NYSE:BP) (London).

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