The Supply of Petroleum Reserves in South-East Asia

1. Front Matter

   Pages i-xix

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2. Introduction

   • Corazón Morales Siddayao

   Pages 1-10

3. Petroleum and Other Energy Forms: Resource Base and Utilization Rates in South-East Asia

   • Corazón Morales Siddayao

   Pages 11-39

4. Petroleum Exploration: Some Distinguishing Characteristics of and Structural Changes in the Region

   • Corazón Morales Siddayao

   Pages 40-74

5. The Contractual Framework in Petroleum Exploration and Development in South-East Asia

   • Corazón Morales Siddayao

   Pages 75-106

6. The Supply of Reserves: Implications of Institutional Arrangements

   • Corazón Morales Siddayao

   Pages 107-130

7. Some Supply Variables and Patterns of Responses of Firms

   • Corazón Morales Siddayao

   Pages 131-155

8. Conclusions and Implications

   • Corazón Morales Siddayao

   Pages 156-174

9. Back Matter

   Pages 175-240

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which may be termed 'political. risks'-may be important deter­ minants of investment. After taking such risks into consideration in the exploration and development stage, a firm computing the pres­ ent value of its probable income stream must consider several other factors. In addition to the current rate of production, it must con­ sider these: (I) engineering limits to the rate of extraction in any given period, (2) physical limits to the total amount of the resource that can be produced within a given location, and (3) limits to the availability of new petroleum sources at the same costs as at the present location. It might be useful at this point to note that the firm as an explo­ ration agent in South-East Asia operates largely as a contractor to the host government who has ownership and final control over the petroleum resources. The group of suppliers of petroleum reserves in the region is characterized by the presence of the major com­ panies, directly or through subsidiaries, as well as by many small­ er, and even independent, companies. Three major companies currently dominate exploration and producing operations in two countries-Exxon and Shell in Malaysia, Shell in Brunei. In Indonesia, Caltex and Stanvac dominate production. Outside Malaysia and Brunei the bulk of new exploration is conducted by relatively smaller companies side-by-side with the major companies like Exxon, Gulf, Mobil, Shell, and Texaco.

• contract
• control
• development
• energy
• extraction
• future
• gas production
• industry
• mining
• oil and gas exploration
• petroleum
• production
• prospecting
• risk
• service

• Institute of Southeast Asian Studies, Singapore

  Corazón Morales Siddayao

• East-West Resource Systems Institute, The East-West Center, Honolulu, USA

  Corazón Morales Siddayao

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