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. Given this increment in growth it’s no surprise to see a very encouraging participation by Singapore companies at OSEA2014, the largest and most important industry event of its kind in Asia Pacific.
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 program and inauguration of the multiphase flow loop facility at the National University of Singapore in October 2014. The multiphase flow loop facility provides a platform where modeling 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.
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.