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Northbridge Industrial Services Plc

Australia to lead Asia Pacific’s oil & gas FID surge in 2020

Asia Pacific oil and gas sector might in 2020 see an increase in mergers & acquisitions and FIDs, while offshore drilling is expected to focus on brownfield wells rather than on wildcats, Wood Mackenzie said in a report on Thursday.

Per WoodMac, around US$35 billion of new development expenditure and 4.6 billion barrels of oil equivalent (boe) of resource could be sanctioned in 2020, compared to only US$5.5 billion and 1.2 billion boe of new projects getting the go-ahead in 2019.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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