EDB sees bright prospects for oil & gas sector

Singapore

A SENIOR official of the Singapore Economic Development Board (EDB) has sounded an upbeat note on the prospects for the marine and offshore industry in Singapore, despite short-term global uncertainties and the volatility of oil prices.

Tan Kong Hwee, the EDB's deputy director of transport engineering, said this optimism is being largely driven by rising demand for energy, especially in emerging markets such as China, India and South-east Asia.

Large gains in shallow-water gas production are expected in the offshore market in the Asia-Pacific, with shallow-water drilling forecas…