Abstract
Exploration in the Far East Region has a very healthy glow at the moment. Significant petroleum related investments are being made in nearly every part of the region. We are even seeing hitherto aloof Governments such as those of Burma, Bangladesh, North Korea, etc. investigate the benefits of foreign investment to spur development of energy resources.
Major investments are being made by Asean countries such as Japan in other Asean countries in order to spur more rapid development of resources and to, intum, secure a supply of energy within the region.
Petroleum related investments are being channeled into two areas, exploration for new hydrocarbon reserves and development or enhancement of existing reserves. The latter emphasis is a relativel new phenomenon which has taken the form of "assistance contracts" in Bangladesh, Burma, Indonesia and recently India. Apparaently the price of oil is such that these projects are, in certain economic circumstances, preferable to straight exploration projects.
As far as geologic trends throughout the region are concerned we are in the midst of an exploration boom in the better known, petroliferous basins. However more and more necomers are arriving on the scene. These entities are pushing back the preconceived frontiers in their competition for exploration acreage. The trend is towards more diverse exploration in lesser known basins and areas. Certainly this also means probing of deeper, older parts of the section in many areas.
Subcontinents such as India with approximately 25 land rigs compared to nearly 4000 in the United States or China with only 300, give one a sense of "room to play". Many explorationist are looking in Southeast Asia with that view. Exploration in Southeast Asia is on the upswing. Geologic and geophysical data is being acquired at an unpresidented rate. All these data indicates strongly that the region is a viable area in which to invest in the search for hydrocarbons.
