– Oil & Gas Sector
Singapore is one of the biggest refining centres in the
world and home to many oil and gas equipment manufacturers and distributors. As
the world leader in the construction of offshore equipment such as jack-up
rigs, semi-submersibles, and floating production storage and offloading
services, Singapore companies such as Keppel Offshore & Marine, Sembcorp
Marine, RK Offshore, and Pacific Radiance, are presently providing these
services to Africa. In particular, Singapore is an
engineering hub for rig building and stands for about 70% of the global market
for oil rigs.
Halliburton – one of the world’s largest oil field service
companies – is headquartered here, and Cameron International chose Singapore as
its Asia-Pacific and Middle East headquarters.
Further downstream, the refining and petrochemical sector,
too, has grown in tandem with the expansion of Jurong Island, which now covers
3,200 ha. Over 100 companies are on the island, which has a total refining
capacity of 1.3 million barrels a day (mbpd), giving it the fourth-largest
refining capacity in Asia. The island has attracted more than $35 billion in
investments and now makes up a third of Singapore’s manufacturing output.
Singapore has a crude oil refining capacity of 1.5m barrels per day, and
the majority comes from three main refineries, Royal Dutch Shell, ExxonMobil
and Singapore Refining Company. Singapore is heavily dependent on gas imports,
and is focusing on decreasing this dependence by shifting to Liquid Natural Gas
(LNG), both in order to feed domestic demand but also with an aim to become an
area for LNG trading.
To meet the high demand for subsea engineers and to
bolster research and development capabilities, the National University of
Singapore established a subsea engineering professorship programme and a
maritime technology professorship programme. It means Singaporeans can continue
to be an important part of a promising sector, noting that the energy and
chemicals sector pays the best across all manufacturing sectors.