The Oil & Gas Year Singapore 2012
The lack of resources in the ground might initially suggest a country with a fairly stagnant hydrocarbons industry, but Singapore is anything but. The Oil & Gas Year Singapore 2012 details a major trading centre and a hub for oilfield technology, a city-state that plays a pivotal role in the Southeast Asian energy landscape. That role is set to place the country on the world stage with a number of ambitious projects coming up.
Both geographically and politically, Singapore is able to carry much influence in the region. Due to its favourable tax regime, strategic location, transportation infrastructure and stable political climate, Singapore has come to serve as a base for oil and gas companies involved in exploration and production activities in Southeast Asia. The diminutive city-state has become a magnet for international oil companies.
The Oil & Gas Year Singapore 2012 Year’s Focus is the oil and gas terminal and industrial complex built on reclaimed land at Singapore’s Jurong Island. There was an average of 1.8 million barrels of oil per day traded from the island in 2011 and the country has a refining capacity of 1.4 million barrels per day.