Tangguh LNG expansion capex $5.3B

MORE than $46.3 billion in capital expenditure will be devoted to oil and gas projects in South East Asia by 2020 – and an Indonesian development will attract a substantial portion of this.

  • Staff Reporter
  • 07 May 2018
  • 04:45
  • News
 Tangguh LNG expansion capex $5.3B Capital expenditure by South East Asia’s major companies between 2018 and 2020

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The figures come from analytics firm GlobalData, which says that average capex of of $17.8 billion a year will be spent on 336 oil and gas fields in South East Asia between 2018 and 2020.
 
Capex on South East Asia's traditional oil projects will add up to $8.3 billion over the three-year period, while heavy oil fields will require $1.7 billion over the same period. 
 
Shallow water projects will be responsible for over 63% of the $46.3 billion, or $31.1 billion by 2020. The onshore projects will be responsible for over 12% or $5.8 billion, while the figure for deepwater and ultra-deepwater will be $9.4 billion.
 
Petroliam Nasional Berhad will lead the way, investing $7.5 billion into the region's upstream projects by 2020. PT Pertamina (Persero) and Chevron Corporation will follow with $4.3 billion and $3.1 billion respectively up to 2020.
 
Tangguh, a producing conventional gas field in Indonesia will lead capital investment with $5.2 billion for the LNG expansion project operated by BP Berau.
 
Block B Gas Development, a planned conventional gas field connected to power plants in Vietnam, follows with capex of $3 billion, which is managed by Vietnam National Oil and Gas Group.
 
Block H Gas Development Project, a planned conventional gas field feeding an FLNG vessel in Malaysia, will follow with $2.9 billion. Murphy Exploration and Production Company is the operator of the upstream part of the project. Among these three fields, two are shallow water and one is deepwater development.

 

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