GlobalData’s latest report, Q4 2018 Quarterly Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in Southeast Asia – Indonesia has Highest Capex on New-Build Projects, indicates that a total of 49 new-build projects in southeast Asia, including both crude oil and natural gas, are expected to start operations in five countries during 2018–2025. Among these, 21 represent the number of planned projects with identified development plans and 28 represent the number of early-stage announced projects that are undergoing conceptual studies and that are expected to get approved for development.

Key projects in Southeast Asia are expected to contribute about 171.5 thousand barrels of oil per day (mbd) of global crude production and about 8.1 billion cubic feet per day (bcfd) of global gas production in 2025.

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In terms of number of planned and announced oil and gas projects, Indonesia leads among countries with 23 projects, with Malaysia and Vietnam following with 17 and seven projects, respectively.

Major planned and announced projects count and capex by key countries in Southeast Asia, 2018–2025

Source: Upstream Analytics, GlobalData Oil and Gas                                                                          © GlobalData

Among operators with the highest operatorship of upcoming projects, SapuraKencana Energy Sarawak leads with seven projects. Petronas Carigali Sdn Bhd and Eni SpA will follow with three and two projects, respectively.

A proposed capital expenditure (capex) of $14.9bn is expected to be spent between 2018 and 2025 to bring the planned projects online in Southeast Asia, and $55.1bn expected to be spent on key announced projects. Among countries, Malaysia, Indonesia, and Vietnam are expected to be the highest capex spenders on key planned projects with about $9.3bn, $4.4bn, and $1.1bn, respectively, during 2018–2025. Regarding early-stage projects, Indonesia is expected to be the top spender among countries in the region with a capex of $28.5bn, followed by Malaysia with $13.6bn and Vietnam with $11.1bn.

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Among companies, Petroliam Nasional Bhd (Petronas), PT Pertamina (Persero) (Pertamina), and Royal Dutch Shell (Shell) have the highest level of spending on planned projects with $3.2bn, $3.1bn, and $1.8bn, respectively. With reference to early-stage announced projects, the highest level of spending is by Petronas, Shell, and Exxon Mobil with $8.7bn, $7.6bn, and $5.1bn, respectively.