Asia National Oil Companies: Overseas Acquisitions To Secure Future Energy Needs

GlobalData’s new report “Asia National Oil Companies: Overseas Acquisitions To Secure Future Energy Needs” analyzes the Asian National Oil Companies (NOCs) in respect of their aggressive overseas acquisitions to secure future energy supplies for the domestic country. The report details the current structure of Asia’s energy sector discussing the reserves, production and consumption trends during 2000-2008 and providing expected crude oil and natural gas production and consumption forecast till 2020. The report details the growth of Asian NOCs in terms of overall reserves and production and also the increase in international operations. The report also discusses the role of Asia NOCs in global M&A industry, detailing the major investments in each region across the globe. Major growth strategies of the Asian NOCs are also discussed. The reports also compares the major Asian NOCs against the big five IOCs in terms of various operational parameters. The role of national governments in the internationalization of these NOCs in also discussed. The report also provides the major future challenges and planned investments by the Asian NOCs during 2010-2015.

The Asian national oil companies have become active players in world oil and gas industry. Driven by the growing domestic consumption and limited domestic supplies, the Asian NOCs have been aggressively increasing their international operations in order to secure the domestic countries’ future energy supplies.

The Asian NOCs have steadily increased their role in the global M&A activities over the past year with a number of acquisitions across the globe. These NOCs are looking to expand their overseas operations in order to increase their operations internationally. The Chinese NOCs have been the most active acquirers over the past years followed by Korea’s KNOC. The Asian NOCs have together spent almost $49 billion during 2005-09 to acquire oil and gas properties overseas.

The domestic governments are also expected to play an important role in the growth of these Asian NOCs. The Chinese government’s recent loan for oil agreements have given a big boost to the Chinese NOCs allowing them to expand their presence into major resource rich countries like Venezuela, Brazil, Russia and others. The past two years have also seen an increased number of NOC-NOC partnerships. The increased trend of major producing NOCs preferring other NOCs to IOCs for the development of major projects will also benefit the Asian national oil companies.

Driven by national priorities, the Asian NOCs will continue to spend aggressively. The overall capital expenditure of these companies is expected to stand at approximately $100 billion in 2010.

Scope

The report provides a detailed analysis of Asian National Oil companies’ strategies to secure future energy needs of the domestic country. It provides
- An analysis of the Asian energy sector with crude oil and natural gas reserves, production and consumption trends from 2000-2008 and forecasts till 2020
- An analysis of the historical growth and major strategies of Asian national oil companies, detailing the growth in international operations.
- Details of the role of Asian NOCs in global M&A activities during 2005-2009, discussing the major investments of these NOCs across the globe.
- An analysis of the role of domestic governments in the internationalization of these NOCs.
- A comparison of Asian NOCs with the big five international majors in terms of various operational parameters. Key companies covered include China National Petroleum Corporation (CNPC), Petroliam Nasional Berhad (Petronas), Oil and Natural Gas Corporation (ONGC), China Petroleum & Chemical Corporation (Sinopec), China National Offshore Oil Corporation (CNOOC), and PTT Exploration and Production.
- Major future challenges faced by the Asian NOCs.
- The future investment plans and opportunities for the Asian NOCs.

Reasons to buy

- Understand the Asian Energy sector by enhancing your knowledge about these major companies in the region.
- Benchmark your operations against operations and competitive strategies adopted by these major national oil companies.
- Understand the strategies adopted by the NOCs and identify possible opportunities to partner with them.
- Identify the opportunities to partner with these growing national oil companies
- Formulate your business strategies in Asia by understanding the strategies of the national oil companies in the region.

Contents

1 TABLE OF CONTENTS


1.1 LIST OF TABLES


1.2 LIST OF FIGURES


2 INTRODUCTION

2.1 Overview
2.2 GlobalData Report Guidance

3 ASIA ENERGY SECTOR: GROWING CONSUMPTION NECESSITATES FOREIGN ENERGY SUPPLIES

3.1 Oil and Gas Reserves Growth, 2008
  3.1.1 Asia-Pacific, Crude Oil Reserves, 2008
  3.1.2 Asia, Natural Gas Reserves, 2008
3.2 Asia, Oil and Gas Production & Consumption, 2000-2020
  3.2.1 Asia Crude Oil Production and Consumption, 2000-2020
  3.2.2 Asia Natural Gas Production and Consumption, 2000-2020

4 RISE OF ASIAN NATIONAL OIL COMPANIES

4.1 Increasing Domestic Needs Drives National Oil Companies To Expand Overseas
4.2 Asian National Oil Companies, Growth In Reserves And Production, 2006-2008
4.3 Asian National Oil Companies: Level Of Internationalization
4.4 Asian National Oil Companies: Share Of International Oil and Gas Operations

5 ASIAN NATIONAL OIL COMPANIES EXPANDING AGGRESSIVELY

5.1 The Internationalization Of The Asian NOCs and Role Of Domestic Government
  5.1.1 NOC- Government Relationship
  5.1.2 China’s Loan For Oil Agreements
  5.1.3 Increasing role of NOC-NOC Partnership
5.2 Chinese National Oil Companies: Securing China’s Future Energy Supplies
  5.2.1 Chinese National Oil Companies: Taking Advantage Of The Global Financial Crisis To Expand Their Overseas Operations
  5.2.2 China National Oil Companies: Gearing Up For Expected Surge In Natural Gas Demand In China
5.3 Indian National Oil Companies: Looking For Avenues To Expand Their Global Presence
5.4 Korea National Oil Company: Huge Dependence On Imports Necessitates The Expansion
5.5 Petronas: Strongly Positioned To Grow Into A Major International Oil And Gas Company
5.6 PTT Thailand: Slowly Expanding Its Operation Base

6 ASIAN NATIONAL OIL COMPANIES: M&A ACTIVITIES AND INVESTMENTS

6.1 Asian National Oil Companies, Expansions Through Acquisitions
  6.1.1 Asian NOCs, Major Acquisitions Abroad, 2005-2009
6.2 Asian NOCs, Investment In Asia and Oceania
6.3 Asian NOCs, Investment In Middle East
6.4 Asian NOCs, Investment In Africa
6.5 Asian NOCs, Investment In Latin America
6.6 Asian NOCs, Investment In Europe
6.7 Asian NOCs, Investment In North America

7 ASIAN NOCS AND INTERNATIONAL OIL MAJORS: COMPARISON OF MAJOR OPERATIONAL PARAMETERS

7.1 Asian NOCs Compared To International Majors, Key Operational Parameters
  7.1.1 Asian NOCs and Major IOCs, Comparison By Oil and Gas Reserves
  7.1.2 Asian NOCs and Major IOCs, Comparison By Oil and Gas Production
  7.1.3 Asian NOCs and Major IOCs, Comparison By Reserve/Production Ratio
  7.1.4 Asian NOCs and Major IOCs, Comparison By Oil & Gas Reserve Replacement (Excluding Sales), %
  7.1.5 Asian NOCs and Major IOCs, Comparison By Total Cost Incurred
  7.1.6 Asian NOCs and Major IOCs, Comparison By Oil & Gas Revenue Per Boe
  7.1.7 Asian NOCs and Major IOCs, Comparison By Total Revenue
7.2 Competition Between IOCs and Asian NOCs To Acquire Foreign Assets

8 ASIAN NOCS: SET TO PLAY A MAJOR ROLE IN ENERGY SECTOR

8.1 Asian NOCs Overseas Expansion: Major Challenges
  8.1.1 Growing Resource Nationalization
  8.1.2 Competing With The International Major To Acquire Equity Oil
8.2 Planned Investments
  8.2.1 Asian National Oil Companies Play A Major Role In World Oil And Gas Spending
  8.2.2 Asian National Oil Companies: Significant Increase In Capex to Support Growth
  8.2.3 Asian National Oil Companies: Actively Entering All Possible Avenues For Future Growth
  8.2.4 Chinese National Oil Companies: Huge Investments In Midstream and Downstream Sector

9 APPENDIX

9.1 Abbreviations
9.2 Methodology
  9.2.1 Coverage
  9.2.2 Secondary Research
  9.2.3 Primary Research
  9.2.4 Expert Panel Validation
9.3 Contact Us
9.4 Disclaimer

1.1 LIST OF TABLES

Table 1: Asia, Crude Oil Reserves By Country, Billion Barrels, 2000-2008
Table 2: Asia, Crude Oil Reserves By Country, Billion Barrels, 2000-2008
Table 3: Asia, Crude Oil Production and Consumption, Million Barrels Per Day, 2000-2020
Table 4: Asia, Natural Gas Production and Consumption, Bcf, 2000-2020
Table 5: Asia, Growth In Crude Oil Consumption By Country, Thousand Barrels Per Day, 2000-2020
Table 6: Asia, Growth In Natural Gas Consumption By Country, Thousand Barrels Per Day, 2000-2020
Table 7: Asia, Major National Oil Companies, Growth In Total Oil And Gas Reserves, Million Barrels Of Oil Equivalent, 2006-2008
Table 8: Asia, Major National Oil Companies, Growth In Total Oil And Gas Production, Million Barrels Of Oil Equivalent, 2006-2008
Table 9: Asian National Oil Companies And Major International Oil Companies, Growth In Reserves and Production, Percentage, 2006-2008
Table 10: Major Asian National Oil Companies , Split Of Reserves By Domestic and International Share, 2008
Table 11: Major Asian National Oil Companies , Split Of Production By Domestic and Foreign Share, 2008
Table 12: China’s Loan for Oil Agreements, 2009
Table 13: Asian National Oil Companies, Major Partnerships /Joint Ventures, 2008-2009
Table 14: Chinese National Oil Companies, Major M&A And Asset Transaction Deals, 2008-2009
Table 15: Chinese National Oil Companies, Long Term LNG Contracts, 2009
Table 16: China, Planned Pipelines, 2009-2015
Table 17: Indian National Oil Companies, Major M&A And Asset Transaction Deals, 2008-2009
Table 18: Korea National Oil Company, Major Overseas M&A and Asset Transaction Deals, 2006-2009
Table 19: Petronas, Share Of International And Domestic Production In Overall Production, 2003-2008
Table 20: Petronas, Major M&A and Asset Transaction Deals, 2007-2009
Table 21: PTT Exploration and Production, Major M&A and Asset Transaction Deals, 2006-2009
Table 22: Major Asian National Oil Companies , Value Of Acquisitions Completed, 2005-2009
Table 23: Asia National Oil Companies, Top 10 Deals By Deal Value, 2005-2009
Table 24: Iraq, Fields Offered In The Second Petroleum Licensing Round
Table 25: China National Petroleum Corporation, Assets in Africa, 2009
Table 26: ONGC Videsh, Assets in Africa, 2009
Table 27: Petronas, Assets in Africa, 2009
Table 28: Asian National Oil Companies, Unconventional Oil And Gas Assets Deals, 2009
Table 29: Asian NOCs and Major IOCs, Oil and Gas Reserves, 2008
Table 30: Asian NOCs and Major IOCs, Oil and Gas Production, 2008
Table 31: Asian NOCs and Major IOCs, Reserve By Production Ratio, 2004-2008
Table 32: Asian NOCs and Major IOCs, Oil & Gas Reserve Replacement (Excluding Sales), % ,
2004-2008
Table 33: Asian NOCs and Major IOCs, Total Cost Incurred, 2004-2008
Table 34: Asian NOCs and Major IOCs, Oil & Gas Revenue Per Boe ($ per Boe), 2004-08
Table 35: Asian NOCs and Major IOCs, Total Revenue,$ Million, 2004-2008
Table 36: Asian National Oil Companies, Total Capital Expenditure, $ Billion, 2005-2009
Table 37: Asian National Oil Companies, Capital Expenditure, $ Billion, 2010
Table 38: Iraq Second Licensing Round, Bids Received For Major Fields, 2009
Table 39: Chinese NOCs, Major Planned LNG Regasification Plants, 2010-2015
Table 40: Chinese NOCs, Major Planned Refineries, 2010-2015
Table 41: Chinese NOCs, Major Planned Oil Storage Terminals, 2010-2015

1.2 LIST OF FIGURES

Figure 1: World Oil and Gas Reserves, Percentage Split By Region, 2008
Figure 2: World Oil Reserves, Distribution By Region, 2008
Figure 3: Asia, Share In Oil Reserves By Country, 2008
Figure 4: Asia, Crude Oil Reserves By Country, Billion Barrels, 2000-2008
Figure 5: World Gas Reserves, Distribution By Region, 2008
Figure 6: Asia, Share In Gas Reserves By Country, 2008
Figure 7: Asia, Natural Gas Reserves By Country, Trillion Cubic Feet, 2000-2008
Figure 8: Asia, Crude Oil Production and Consumption, 2000-2020,
Figure 9: Asia, Increasing Crude Oil Demand- Supply Gap, 2000-2020,
Figure 10: Asia, Growth In Natural Gas Production and Consumption, Bcf, 2000-2020,
Figure 11: Asia, Increasing Natural Gas Demand- Supply Gap, 2000-2020,
Figure 12: Asia, Growth In Crude Oil Consumption By Country, Thousand barrels Per Day, 2000-2020
Figure 13: Asia, Growth In Natural Gas Consumption By Country, Thousand Barrels Per Day, 2000-2020
Figure 14: Asia, Major National Oil Companies, Growth In Total Oil And Gas Reserves, Million Barrels Of Oil Equivalent, 2006-2008
Figure 15: Asia, Major National Oil Companies, Growth In Total Oil And Gas Production Million Barrels Of Oil Equivalent, 2006-2008
Figure 16: Asian National Oil Companies And Major International Oil Companies, Growth In Reserves and Production, Percentage, 2006-2008
Figure 17: Asian National Oil Companies , Overseas Operations By Region, 2009
Figure 18: Major Asian National Oil Companies, Level Of Internationalization
Figure 19: Major Asian National Oil Companies, Split Of Reserves By Domestic and International Share, 2008
Figure 20: Major Asian National Oil Companies , Split Of Production By Domestic and International Share, 2008
Figure 21: China Loan For Oil Agreements, 2009
Figure 22: Chinese National Oil Companies, Major Overseas Acquisitions, 2008-2009
Figure 23: Chinese National Oil Companies, Major Long Term LNG Contracts, 2009-2035
Figure 24: Korea National Oil Company, Major Overseas Acquisitions, 2006-2009
Figure 25: Petronas, Increasing Share Of International Production. 2003-2008
Figure 26: Major Asian National Oil Companies , Value Of Acquisitions Completed, 2005-2009
Figure 27: Major Asian National Oil Companies ,Assets In Middle East, 2009
Figure 28: Asian NOCs and Major IOCs, Oil and Gas Reserves, 2008
Figure 29: Asian NOCs and Major IOCs, Oil and Gas Production, 2008
Figure 30: Asian NOCs and Major IOCs, Reserve By Production Ratio, 2008
Figure 31: Asian NOCs and Major IOCs, Oil & Gas Reserve Replacement (Excluding Sales), % , 2008
Figure 32: Asian NOCs and Major IOCs, Total Cost Incurred, 2008
Figure 33: Asian NOCs and Major IOCs, Oil & Gas Revenue Per Boe ($ per Boe), 2008
Figure 34: Asian NOCs and Major IOCs, Total Revenue, $ Million, 2008
Figure 35: Foreign Company Access To Proven Oil Reserves, 2008
Figure 36: Asian National Oil Companies, Total Capital Expenditure, $ Billion, 2005-2009
Figure 37: Asian National Oil Companies, Share In Total Capital Expenditure, %, 2010
Figure 38: GlobalData Methodology
China National Petroleum Corporation (CNPC)
Petroliam Nasional Berhad (Petronas)
Oil and Natural Gas Corporation (ONGC)
China Petroleum & Chemical Corporation (Sinopec)
China National Offshore Oil Corporation (CNOOC)
PTT Exploration and Production
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