Southeast Asia evolves into an NOC universe
The trend for the region’s operators to play a bigger role looks set to continue
NOCs have grown in influence in Southeast Asia, evolving from their role as regulatory bodies for upstream activities to being key operators and partners in the region’s largest fields. And this trend will continue and could even accelerate in 2021. NOCs have increased their control through a shift from a concessionary system to production-sharing contracts (PSCs). But they have also pursued M&A to increase their participation in the region’s development and production projects. Their shares in both regional investment and output have risen steadily—from 35pc and 30pc in 2000, respectively, to current 50pc stakes. In absolute terms, regional NOCs’ production grew by 30pc from 2.4mn bl/d
Also in this section
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
