Global Information would like to present a new market research report, "Offshore Oil and Gas Developments in Asia Pacific - Burgeoning Energy Demand Drives Exploration and Production Activities."

"Offshore Oil and Gas Developments in Asia-Pacific - Burgeoning Energy Demand Drives Exploration and Production Activities" provides analysis of the rise in offshore activities in the Asia-Pacific region.

The report documents the key discoveries, explorations and productions by companies in the countries of the region and explains the reasons for the rise in offshore activities. The report shows the important offshore regions and basins of different countries and discusses the issues and drivers that are leading to a rise in offshore activities. The economic factors leading to the rise in offshore actives is also discussed in the report.

Rising Need to Reduce Dependency on Import Drives Asia-Pacific Countries to Boost Oil and Gas Production through Offshore Activities

The need to reduce dependency on imported oil and gas is leading countries in Asia-Pacific to increase their domestic production of energy resources by increasing offshore exploration and production (E and P) activities. Countries in the region are witnessing increasing import dependency for oil and gas amidst their rising energy consumption, which is being driven by rapid economic development.

Over the last decade, the Asia-Pacific region has witnessed the fastest economic growth among all the regions of the world, primarily driven by the emerging economies in the region, such as China, India, Indonesia and Thailand.

This rapid economic growth has resulted in a sharp increase in the consumption of energy resources in the key economies of Asia-Pacific, led by China, India, Indonesia and Thailand. An increase in oil and gas consumption coupled with limited domestic supply has led to the increasing import dependency of these countries for their oil and gas requirements.

Offshore Oil and Gas Resources Development to be Challenged by Territorial Disputes
A factor that may negatively impact the growth prospects of offshore oil and gas exploration and production in the Asia-Pacific region are territorial disputes between neighboring countries.

This is evidenced in the territorial dispute between PetroVietnam (Vietnam) and OVL (India) in the South China Sea, where offshore oil and gas activities have been impacted due to the territorial claims of the littoral states.

The two companies collaborated to explore some of the blocks of South China Sea, but the agreement between OVL and PetroVietnam drew opposition from China, claiming the development to be a violation of its sovereignty. Prior to this deal, it had been reported by various media outlets that some International Oil Companies (IOCs) had been advised by certain littoral states to abandon their oil and gas exploration deals with Vietnam.