Asia Pacific Spotlight
Welcome back to the ERCE Asia Pacific Spotlight in our first issue of 2019. We’ll keep aiming to update and inform you on key issues facing our region and the energy industry.
In this issue:
ERCE presents at the SGX
In September 2018 ERCE Founder Director Simon McDonald presented to the Singapore Exchange (SGX). He reviewed changes in Reporting Reserves & Resources, and the developing understanding in Reserves & Contingent Resources. Simon has over 40 years of experience in the industry and is the President of the Society of Petroleum Evaluation Engineers.
With industry activity picking up, the mega-project may rise again. The complexity of these large scale projects often results in budget overruns and schedule delays. In this article we will discuss the causes of these overruns, try to understand the consequences and then assess methods and strategies to combat these issues.
ERCE's Energy Price Review
What is the ERCE’s Energy Price Review? The Review is a resource that covers current oil and gas prices and looks at some of the global macro indicators influencing these trends. In addition, we provide our current oil price decks and review oil price assumptions presented by other petroleum consultants and analysts.
ERCE’s review now also covers renewables and other sources of energy.
Find out more about the Energy Price Review and how we can support your commercial activities and decisions.
Global Price Update
Oil prices have tempered as OPEC has increased supply in recent months and fears of a trade war between China and the USA increased concern around demand. The Brent-WTI split had a sharp correction in late June in line with OPEC’s increased supply and Syncrude Canada suffered a major outage. Asian LNG have been driven by an increase in demand over the northern hemisphere winter months.
Talent Development in small NOCs
National Oil Companies (NOC) and Government Authorities (GA) in countries without an oil & gas history often face an uphill task in building the technical expertise to manage a new and growing energy industry. We look at the technical resources that can be utilized to not only regulate the entry of foreign companies, but also to ensure that the country gets the most out of its energy resources.
Welcome Michael Braim to the ERCE Singapore office
Mike is ERCE’s Head of Geophysics and joined the Singapore team from ERCE’s London Office. Mike coordinates a dynamic and highly technical team, implementing a comprehensive suite of geophysical techniques. He has extensive skills in quantitative rock physics, multi-layer depth conversion methods and seismic interpretation
Click on the link to find out more about Mike and our Singapore & London staff.