Singapore is one of the world’s top three export refining centres and the world’s third largest oil and oil products trading hub, making it the undisputed oil hub in Asia. Central to the oil industry’s phenomenal success is Singapore’s unique ‘plug and play’ infrastructure and complete supply chain integration.
The centre of oil and gas activities is Jurong Island – home to more than 95 leading oil and gas, petrochemicals and specialty chemicals companies from around the world. Recent multi-billion dollar investments have also put in place some of the world’s most technologically advanced refinery infrastructure and petrochemical plants in Singapore.
Besides manufacturing, Singapore is also the choice location of Energy & Chemicals companies’ HQ and R&D activities. The safe business environment, availability of excellent manpower as well as presence of leading research institutes and universities have attracted multi-national companies from the oil majors to petrochemicals and specialties to set up their presence here.
As the global energy market becomes ever more diverse and complex, Singapore’s oil and petrochemical industry has been buoyed by an influx of leading energy companies, the implementation of technologically advanced refinery infrastructure and an unprecedented speed of change and discovery.
The stable, pro-business environment and central location has also made Singapore the choice regional HQ base for many oil and gas companies, where key decisions affecting regional exploration and production are made. These developments present unprecedented new opportunities for the world’s largest oilfield services providers including Schlumberger, Halliburton, Baker Hughes and Weatherford.
CGGVeritas, the world’s leading international pure-play geophysical company, also has its Asia-Pacific HQ in Singapore, delivering critical seismic imaging and processing services to oil majors to assist in oil exploration.
Major technology solutions and EPCI companies like Aibel, FMC Technologies, Foster Wheeler, GE Oil & Gas, KBR, McDermott, Saipem, Technip, and WorleyParsons have also made Singapore their home to deliver solutions for both onshore and offshore projects, from Subsea to topside construction, to LNG, pipelines and power generation.
Singapore has long had a thriving marine and offshore engineering industry founded on its trading history and strategic position along global shipping lines. It is a leading centre for offshore activities, with a dominant global market share of rig building and Floating Production Storage Offloading (FPSO) vessel conversion.
Confidence in Singapore’s high level of expertise in shipyard operations, vessel design and engineering and marine equipment and services, combined with an unprecedented growth in demand from the offshore industry, have spurred an inflow of private fixed capital investments in infrastructure and capabilities. To promote innovation and entrench the offshore sector, the Singapore government has set up well-equipped research and development infrastructure such as the Maritime Research Centre, Centre for Offshore Research and Engineering, and Centre of Innovation–Marine and Offshore Technology.
According to the World Bank 2010 report, Singapore is the world’s No. 2 logistics hub. As many as 17 of today’s top 25 global third-party logistics providers have established regional HQs or regional hub operations here. Leading companies like DHL and TNT have set up centres of excellence to develop solutions unique to Asia, and Singapore is also home to The Logistics Institute–Asia Pacific, Asia’s leading logistics think tank.
The highly competitive and sophisticated process management and logistics industry is well placed to develop and deliver innovative logistics and supply chain management solutions that address the needs of the oil and gas, marine and offshore engineering and chemicals sectors.
Where do you fit into the picture?
As the global energy market becomes increasingly complex, Singapore has been steadily keeping pace with capacity and technological developments, and boasts the competitive advantages to secure its leading global position among the top 10 petrochemicals hubs in the world.
Growth in this industry promises to be multi-faceted, and hinges on the application of exciting and cutting-edge technologies. Singapore is keen to develop a pool of skilled oil and gas industry professionals who can support these developments and take the industry to the next level. Already the industry’s major players are looking for top offshore and onshore talent to fill some of these positions: