When looking for employment opportunities, those with oil and gas training should not look further than the ASEAN community. With increasing levels of investment both internally and from foreign sources, the energy sector in the country is expected to grow.
Could energy integration drive the demand for individuals with IWCF qualification.
So how could a recent rule change drive investment in the community and what will this mean for jobs, such as Malaysia well control roles?
Japan raising investment
A recent report from the Financial Times revealed that Japan Bank for International Cooperation (JBIC) has made changes to its lending rules and will now allow higher risk investment through a specially designed account.
The JBIC has around USD $15 billion in commitments to ASEAN countries, with much of this tied up in power plants and other energy-related infrastructure. The Times believe that both power and transport infrastructure projects are likely to be targeted by investors.
The changes are expected to allow Japanese firms to better compete with Chinese competitors.
An example of where new rules will have an impact is the recent loan offered by the JBIC for the controversial Batang coal power project. The US$3.4 billion loan will fund the 2,000-megawatt coal-fired power plant in Central Java, with US$2 billion coming from the JBIC and the rest from an assortment of financial institutions- such as the Bank of Tokyo-Mitsubishi.
Shared power grid a possibility for ASEAN
With the increasing investment in energy projects, both in the upstream and downstream infrastructure the question on ASEAN members’ lips is how to increase the public’s access to energy. The ASEAN community could use the Nordic model for sharing energy between neighbouring countries, which has been highly effective in Scandinavia.
A major action plan established by ASEAN members is directed at energy integration and seeks to establish a region-wide electricity grid. The power pool model will allow companies to sell electricity at market price across national borders. To accomplish this, national governments need to simplify their approach to governing their energy markets and allow for cross-border transactions.
Speaking to SciDev.Net on the sidelines of the Asia Clean Energy Forum 2016, CEO of Nordic Pool Consulting Hans-Arild Bredesen said that the technology is there to be used.
“This piggybacks on what Europe has done for the last 25 years, then Southern Africa for the last 10 years. We just need to adapt it to South-East Asia,” he said.
With increasing amounts of investment in the ASEAN community, energy integration could be a possibility. With this should come an increasing demand for raw materials and thus those with the oil and gas training who can help extract combustibles
If you would like to know how you gain the qualifications needed to take advantage, contact Harness Training today.