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Friday, 12 March 2010, 08:00 HKT/SGT

Source: OSEA
Oil & Gas Industry Lifted by Increased CAPEX in Asia Pacific; Participation at OSEA2010 Sets New Record High as Companies Step up Operations in Asia

SINGAPORE, Mar 12, 2010 - (ACN Newswire) - The global oil and gas sector capital expenditure in 2010 is projected to see a hike of 12 per cent and the total capex of the leading listed oil and gas companies is expected to exceed US$798 billion. With the majority of the oil and gas discoveries made last year happening in the Asia Pacific (35 per cent), the bulk of the exploration and production investment in the coming years is likely to be spent in this region.

Oil and gas companies from across the globe have signaled their intentions to increase their business footprint in Asia with their unprecedented participation in one of the top industry events in the world. OSEA2010, the largest oil and gas exhibition and conference in the Asia Pacific region, continues its strong growth on this industry backing and will feature 1,500 companies over 22,600 square metres of space at Suntec Singapore when it returns for its 18th showing from 30 November to 3 December this year.

Attendees to OSEA2010 are expected to hail from 60 countries and regions and will be looking to cater to demand for exploration and production operations across the regions of the Pacific, Southeast Asia and the Indian Ocean. Singapore is the largest oil and gas supply base and technology hub in the region, accounting for 70 per cent of global market share for floaters/rigs for instance. The island state is an ideal focal point for industry professionals, business leaders and government officials to congregate. The previous edition of OSEA attracted over 20,000 attendees and represents the largest industry gathering east of the Middle East and West of Houston.

The rise in the 2010 capex activity is driven mainly by large National Oil Companies (NOCs). The total capital expenditure by the listed NOCs is expected to register a 16 per cent growth to around $375 billion. OSEA2010 will be key business networking arena for companies looking to gain headway with NOCs, as well as IOCs, in the region. Exxon Mobil, PetroChina, CNOOC, PNOC, Timor Leste & MIGAS are amongst the invited NOCs and IOCs slated to have a strong presence at the event.

"As the economy recovers and crude oil and natural gas prices stablise, we expect exploration and development activities, particular in the Asia Pacific Offshore regions, to increase," said Mr. Tee Boon Teong, Project Director of OSEA at Singapore Exhibition Services (SES). "OSEA2010 provides an efficacious platform for the global oil and gas community to network, source for the latest technologies for prospecting to production and share market insights, right in the heart of Asia."

The OSEA2010 International Conference will be held concurrently with the exhibition and will feature an array of topics and panel discussions from the areas of exploration to production, and gas technology and recovery. The conference this year will see the debut of a high-level OSEA Leaders' Summit and the Offshore O&G Communications Conference. Delegates can expect the 2010 conference to once again bring together leading experts and professionals to deliberate the pertinent issues and technologies shaping the industry.

More information is available at www.osea-asia.com.

OSEA2010 at a glance:

Show:              OSEA2010
                   The 18th International Oil & Gas Industry 
                   Exhibition & Conference (since 1976)
Date:              30 November - 3 December 2010 (Tuesday - Friday)
Venue:             Suntec Singapore, Levels 4 & 6
Opening Hours:     10.30am to 6.00pm
Admission:         Business and trade professionals only

Eric Yum
PR Manager
Singapore Exhibition Services
Tel: +65 6233 6632
Fax: +65 6272 2962
Email: ey@sesallworld.com

Elaine Sng
Senior PR Executive
Singapore Exhibition Services
Tel: +65 6233 6636
Fax: +65 6272 2962
Email: es@sesallworld.com

Topic: Trade Show or Conference
Source: OSEA

Sectors: Energy, Alternatives
From the Asia Corporate News Network

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