The Greater Singapore region has been central to the South Eastern offshore oil and gas industry for many years. It is both strategically located and naturally sheltered from the northeast monsoon.
There are numerous oil and gas fields off the east coast of Malaysia, the Gulf of Thailand, Brunei, Sarawak, Sabah, Indonesia and Myanmar which are currently served by nearby engineering facilities and service providers based in Malaysia, Batam and Singapore which have proven to be very practical and economical base of operations.
Deep water offshore fields within Southeast Asia still have a lot of development and production potential and Pengerang Maritime Industrial Park offers an ideal and synergistic location for offshore industry bases to serve these offshore fields.
Ongoing Trend For The Energy Sector Of Malaysia
Malaysia's energy demand will almost double between today and 2040, with rising contributions from all energy sources.
Fossil fuels remain dominant in Malaysia's energy mix, with its share still projected to exceed 90% by 2040, although the hierarchy changes. Coal demand increases by more than a factor of three over the projection period, overtaking both oil and gas to become the primary fuel in the country's energy mix. Oil demand is projected to rise to about 1 million barrels per day by 2040, while the growth in natural gas demand slows.
Demand for renewables more than doubles by 2040, with their share of electricity generation rising to 16%, underpinned by strong policy support.
Malaysia's role in international markets shifts as the country becomes increasingly dependent on oil and coal imports, while natural gas exports fall back.
Source: Southeast Asia Energy Outlook 2015, by International Energy Agency (IEA)