Asian Oil Companies Expand Internationally to Quench Domestic Thirst, Reports GlobalData
16 Jul 2012 • by Natalie Aster
A heavy reliance on oil and gas imports is forcing key Asian countries to look further afield to meet domestic needs. , the national oil companies (NOC) of China, India, South Korea and Thailand are increasing investments in overseas oil and gas exploration projects as consumption levels continue to exceed national production. As these emerging economies continue to grow, the disparity between need and domestic production becomes more significant.
According to the "Asian National Oil Companies (NOCs) - International Operations to Play a Key Role in Ensuring Domestic Energy Security" report by GlobalData, India’s current oil and gas production represents around 40% of its consumption, while for South Korea that figure drops to below 10%. Both China and Thailand import approximately half of the oil and gas they require. Mergers and acquisitions also constitute a key tactic in ensuring domestic energy security. For the period March 2010 to March 2012, Korea National Oil Corporation (KNOC) carried out 10 acquisitions and asset transactions, including planned deals – the largest figure for any of the Asian NOCs.
Asian National Oil Companies (NOCs) - International Operations to Play a Key Role in Ensuring Domestic Energy Security
Published: June, 2012
Price: US$ 3.995,00
However, as a nation, China carried out more acquisitions during this window than any other Asian country as it continues to expand its economy. GlobalData found that, through its three major NOCs (CNOOC Limited, PetroChina Company and China Petroleum and Chemical Corporation) the country invested $17.31 billion in overseas acquisitions (for the deals for which the value was disclosed). China, India, South Korea and Thailand all have oil and gas reserve lives of seven to 26 years, but have limited capacity to swell domestic production and will continue to look to international sources to maintain resource levels.
More information can be found in the report “Asian National Oil Companies (NOCs) - International Operations to Play a Key Role in Ensuring Domestic Energy Security” by GlobalData.
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