Singapore companies to tap into Asia's oil and gas growth trends through OSEA
Singapore: �The offshore market in the Asia Pacific is expected to see large gains in shallow water ...
Singapore: �The offshore market in the Asia Pacific is expected to see large gains in shallow water gas production, with shallow water drilling forecasted to grow 29 per cent over 2013 to 2020. These numbers bode well for companies serving Singapore's marine and offshore engineering industry, and they are ready to tap into the opportunities arising from surrounding regions. The buoyancy of Asia's vibrant oil and gas landscape is mirrored in the healthy participation of Singapore companies at OSEA2014, the largest and most important industry event of its kind in Asia Pacific. OSEA2014 has seen a jump in the number of local exhibitors. More than 600 Singapore-based companies, comprising a mix of home-grown and foreign-owned companies, will be present, compared to 484 companies from 2012 - a 11 per cent increase. These companies will showcase their state-of-the-art engineering and offshore support services, from EPC and industrial automation solutions to shipbuilding and oilfield services, designed to serve companies across the Oil & Gas value chain. A Singapore Pavilion organised by the Association of Singapore Marine Industries (ASMI), a strong supporter of the exhibition since 2010, will be featured. OGmTech2014 - the inaugural International Exhibition on Manufacturing Technology for Oil & Gas, held alongside OSEA2014, will also present a Singapore Pavilion organised by the Singapore Precision Engineering and Tooling Association (SPETA). "In today's fast growing and competitive industry landscape, the need for businesses in Asia to continuously innovate and level up operations and capabilities has never been more important. By presenting a conducive industry sourcing platform and reliable knowledge centre, Singapore companies will be able to demonstrate their capabilities and impart know-how. Through OSEA, they will be well-placed to tap into the Oil & Gas industry and enhance their business proposition," says Mr. Chua Buck Cheng, Project Director of Engineering Events at Singapore Exhibition Services. "Since our establishment over 80 years ago, we have constantly been updating and maintaining a high level of capabilities in marine and offshore services. From heavy structural construction to outfitting projects, we have built a reputation on quality service. Our participation in OSEA for the past two editions has provided us with an insight into industry trends and issues, thus enabling us to enhance our services and establish our network of specialist companies and overseas offices, as well as extend our partnerships with global agencies," says Mr. George Ching, Executive Director, Kwong Soon Engineering. "From being a trading company specialising in the Oil and Gas industry, Exion Asia's growth has been both organic and through acquisitions. We now provide maintenance and engineering services to the Oil, Gas, Petrochemical, Offshore and Power Industries in Asia Pacific. Having consecutively participated in OSEA for the fourth time, we look forward to using this valuable platform to network and gain new perspectives into the industry, which will give us the opportunity to upgrade our services," says Mr. Melvin Ong, Deputy Managing Director, Exion Asia. Industry's strong growth supported by investments in R&D and talent Speaking at a joint OSEA2014 press conference today, the Singapore Economic Development Board (EDB) elaborated on how the marine and offshore ecosystem in Singapore supports the growth of companies who have their base of activities here. The EDB, in a bid to further develop this ever-growing sector, has made significant investments to develop industry-relevant R&D capabilities and talent. One recent example is the launch of the Petroleum Engineering Professorship programme and inauguration of the multiphase flowloop facility at the National University of Singapore in October 2014. As part of the programme, NUS will introduce new course modules in Petroleum Engineering for their Masters in Offshore Technology, and partner companies in R&D projects. The multiphase flowloop facility provides a platform where modelling and simulation for multiphase flow analysis can be performed by A*STAR's Institute of High Performance Computing, coupled with experimentation and validation. This will strengthen Singapore's R&D capabilities and further collaborations between industry and academia. Mr. Tan Kong Hwee, Deputy Director, Transport Engineering, Singapore Economic Development Board, says, "The marine and offshore sector plays a significant role in the Singapore economy and it continues to exhibit strong growth. From 2010 to 2012, the sector grew by 8 per cent. The government is committed to working closely with industry to ensure sustainable growth in the long term. In particular, we will focus on developing the necessary capabilities and talent to attract higher value-added activities in engineering, research and development." "Also, as part of these initiatives, EDB is collaborating with Singapore Exhibition Services, organiser of OSEA2014, to expose future graduates to local and international companies in the upstream Oil & Gas industry to help them gain a better understanding of the sector," he adds. "OSEA has established a reputation as a premium quality trade event that gathers international government representatives, industry thought leaders and business professionals in one place over four days. It is hoped that the exhibition will foster stronger relationships and collaboration between the industry and academia," explains Mr. Chua. Diversification to Oil & Gas industry reaps rewards for home-grown company Also speaking at the joint press conference is Mr. Mark Beretta, the Chief Operating Officer of KTL Offshore. Mr. Beretta revealed details about KTL Offshore's expansion overseas with a rigging facility in Johor, Malaysia, set to open in the first quarter of 2015. Located at Tanjung Langsat in the Iskandar development area, the facility occupies an area of more than 5,800 square metres and is strategically located near to the major wharf in Tanjung Langsat. Once operational, KTL Offshore (Malaysia) will operate a 3,000MT test bed (DNV calibrated), heavy lift manufacturing and lay down area, grommet and general sling production area and machinery, wire rope reel storage and a covered warehouse facility. Commenting on the new Malaysian facility, Mr. Beretta says, "It is a timely opportunity for us to expand as the new facility will bring us closer to our customers in Malaysia. It is dedicated to their needs and will offer the same range of products and services as our headquarters here. Singapore, as the regional hub for the international oil & gas industry, has been the gateway for KTL to venture overseas and extend our business beyond its shores." Originally a family provision store established more than 100 years ago, KTL Offshore has transformed its business with a focus on providing rigging services. The company is now one of the largest wire rope and rigging suppliers worldwide. Its wire rope, rigging and mooring facility in Singapore occupies a land space of 28,000 square metres. KTL also has a facility in the Hameirah Free Zone, United Arab Emirates, as well as an office in Batam, Indonesia. The company is listed on the Singapore Stock Exchange since 2007 under KTL Global Ltd.
All Right Reserved