This month Infield Systems provides a snapshot look at offshore Asia up to 2020, with an emphasis on upcoming floating production developments.
Mar 9th, 2016
|This month Infield Systems provides a snapshot look at offshore Asia up to 2020, with an emphasis on upcoming floating production developments. There could be a 27% increase in floating platforms installed in the region over the next five years in comparison to the historic period (2011-2015). A diverse range of floating platform types could be installed, the largest share of which is thought to be floating storage and regasification units (FSRU). The use of FSRUs allows countries to import gas from a diverse global portfolio, particularly in countries which have rising energy consumption such as India.|
|Asia could also see the start-up of the world’s first FLNG FPSO which will be Petronas’ PFLNG-1 facility, capable of producing 1.2 mtpa of LNG. The unit is expected to be deployed to the Kanowit field offshore Malaysia in early 2016, with another FLNG FPSO operated by Petronas being deployed at the deepwater Rotan field during the second half of the forecast period. INPEX’s Abadi gas field located offshore Indonesia is planned to use a 7.5 mtpa FLNG FPSO. Despite Infield Systems expecting the unit to see some spend over the next five years, it does not expect installation of the FLNG FPSO to take place before the end of 2020.|
|Asia is largely a shallow-water province for oil and gas production, with Infield Systems anticipating 89% of fields entering production during the 2016-2020 period to be located in shallow waters (less than 499 m/1,637 ft). Floating production in the region is also projected to continue to be mainly used for shallow-waters projects as opposed to other regions where they tend to be used at deeper water developments. The potential use of nearshore FSRUs is one contributing factor driving shallow water demand, which is also supported by possible shallow water FPSOs, predominantly associated with projects in Southeast Asia such as Madura Strait project offshore Indonesia, operated by Husky-CNOOC Madura. - George Griffiths, Senior Energy Researcher, Infield Systems|