Asia Pacific Spotlight
November 2021 Issue
ERCE continues to bring you energy news and articles from across the Asia Pacific region.
In this month’s Spotlight:
ERCE opens Malaysia Office
ERCE’s Malaysian office in Kuala Lumpur opened in May 2021. Our office is headed by Rusli Jusoh, who has over 30 years of experience with PETRONAS around the globe.
Source: Evgeny Prokofyev/Shutterstock.com
Greenhouse Gas – How grey is your upstream?
Investors & lenders are becoming increasingly concerned with the greenhouse emissions associated with the oil & gas projects they fund.
Lifecycle emissions forecasts can provide information to stakeholders on how much carbon their funds may be contributing to and how to manage their investment or loan portfolio within emission intensity limits.
Global Price Update
European and Asian gas prices surged in Q3 as a result of a global gas shortage, as countries struggle to refill inventories in time for the winter period. The JKM hit record highs of $34.7/MMBtu, while European gas prices hit all-time highs, having gone up around 400% this year. By the end of September NBP prices had hit 238 p/therm while the Dutch TTF prices had risen above EUR 95/MWh.
Brent oil surpassed US$80/bbl for the first time in three years, as OPEC+ members face difficulties raising their production output. There is also the anticipation of gas-to-oil switching as a result of the surge in natural gas prices.
Thailand’s oil & gas production has evolved from onshore in the 1950’s into extensive offshore development across a wide area of the Gulf of Thailand. However, national oil production peaked in 2016 and gas production has declined since 2021. With no major recent discoveries, what does the future hold?
Find out more about Thailand’s upstream including historical performance, the key players and recent activity both onshore & offshore through the link below.
Asia Pacific goes Carbon Neutral
At ERCE we recognise we all have a part to play in the energy transition to a lower carbon future. As part of a wider company initiative, ERCE has offset office emissions for our Singapore & Malaysia offices to go carbon neutral in Asia Pacific.
Find out the projects ERCE has invested in to offset our office & staff emissions.
Hydrogen – What Colour?
Grey vs Blue vs Green
As interest for power generation through hydrogen increases, ERCE examines the role the gas could play in a low carbon, hydrogen future.
We examine the uses, extraction, storage and transportation of hydrogen. Then we look at who’s leading the race to large-scale, commercial hydrogen production.
Recent Changes in Malaysian Oil & Gas Fiscal Regime Explained
In February 2021, Petronas Malaysia Petroleum Management (MPM) launched the Malaysia Bid Round (MBR) with 13 exploration blocks being offered. As part of the promotion of new investment, the Enhanced Profitability Production Sharing Contract terms (EPT PSC) were introduced and will be applied to nine shallow water blocks, out of the 13 blocks offered.
This follows previous Late Life Assets (LLA) PSC terms (2019) and the Small Field Assets (SFA) PSC terms (2020) that were previously introduced to encourage long-term investment.
New Staff in Singapore & Australia
ERCE has added Kathe Trigg & Ivan Maulana to our Geoscience ranks in Asia Pacific.
ERCE’s offices in Singapore, Australia & Malaysia allow us to offer a full multi-disciplinary team supporting geophysics, geology, petrophysics, reservoir engineering, facilities & cost engineering and petroleum economics across the APAC region. To find out more click on the link below or visit our website.
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