Abstract
Oil production in the Far East area in 1972 averaged about 1,578,226 BOPD with another 600,000 BOPD estimated for the China mainland, representing increases over 1971 of 23 and 17.6%, respectively. The main producing countries are: Indonesia, 49.81%; China, 27.55%; Brunei, 9.04%; India, 7.18%; and Malaysia, 4.36%. Production figures for natural gas are incomplete, but the daily average for 1972 exceeded 1.75 Bcf. With LNG shipments from Brunei commencing in December 1972 and with negotiations in progress for Indonesian and Malaysian known reserves, gas production in the Far East is expected to rise sharply. To attract foreign investments and techniques, the Philippines and Malaysia have enacted new petroleum laws patterned along the lines of the Indonesian “production sharing contract.” It appears that India and perhaps Burma may follow this course, at least in their offshore areas. Aggressive exploration activities in 1972 resulted in several new discoveries. Aggressive exploration is expected to continue in 1973.
