RIGS IN ASIA
As with so many aspects of business, economy and life in the world, the demand for energy is the result of more than one factor. However, the current ongoing high demand for energy which is driving the global Oil Country Tubular Goods (OCTG) market at the same time is largely the result of two factors: the transportation industry and the industrialization of emerging economies, most notably China and India.
OCTG refers to the drill pipe, steel tubes and steel casings which are utilized primarily for drilling and producing oil and gas. OCTG supplies, like MaxX Thread Protectors, must be consistently quality made as they are consistently subjected to loading conditions according to their specific application.
OCTG products can be produced as a seamless pipe or a welded tube and pipe. The oil and gas exploration and production industry mostly uses the seamless because OTCG products quality manufactured by this process can achieve higher grades and heavier wall thicknesses than welding can.
Growing hand-in-hand with a growing global rig count is an increase in oil and gas exploration and production activity as well as an expansion of shale drilling regions. These increases are driving the rapid expansion of seamless pipe production in China as well as driving the demand for quality OCTG products for which Essentra Pipe Protection Technologies is the global leader.
Economic factors have absolutely bolstered Asia’s role and potential role in the global oil and gas industry. China’s status as one of the top three oil consuming countries in the world (along with the United States and Russia) has been a huge part of Asia’s role which is considered by many experts to have become central point for growth in global energy and commodity markets. The amazing rapid economic growth of this continent is propelling a heavily significant rise in the consumption of oil and natural gas. Though centered in China, the energy demand of Asia is rising dramatically across the entire continent.
Not only has Asia been responsible for well over 60% of the global growth in demand for more than two decades, but the 2011 and 2012 World Energy Outlook Executive Summary published by the International Energy Agency states that Asia is poised to account for more than 85% of the global increase in oil demand into the 2030s.
- Japan and South Korea are 100% dependent on importing oil
- India and Southeast Asia are 75% dependent on importing oil
- China is approximately 50% dependent on importing oil
Whether your interest is career, economical or educational, the Rigs Around The World pages of the Essentra Pipe Protection Technologies website will keep you informed with numbers and statistics as they develop regarding rigs and oil exploration / production activities. And, sustaining our responsibilities as the global leader in pipe protection technologies, Essentra provides you with a library of resources on these pages regarding the history and technological breakthroughs related to Rigs Around The World.