The dip in oil and gas production that Southeast Asia has seen since 2020 is exacerbating a downward trend in regional volumes that may continue into the decade ahead, according to a recent industry analysis.

Analysts with Rystad Energy recently predicted that the region’s combined oil and gas production would likely not push above the 5 million boe/d volume average in 2021 – at least, not anytime soon.

“Liquids production in Southeast Asia has been on the decline for almost 20 years due to a lack of discoveries and project sanctioning activities in the region,” Rystad’s Prateek Pandey, upstream vice president, said. “While new government incentives may help, the region looks set to experience declining production levels well into the future.”

[Download Now: In...