Singapore, the premier shipping center in Southeast Asia, was ranked the world's second busiest port in terms of shipping tonnage in 2013. The island-state, with its strategic location in the region, is a significant oil refining and trading hub. It has also become a natural gas player in the region following the start-up of a liquefied natural gas (LNG) import terminal on Jurong Island in 2013. Although Singapore produces no oil and gas, companies based in the country are actively engaged in providing services in support of regional exploration and production activities. Many oilfield service and subsea companies have operations in Singapore, which is home to major offshore and marine firms such as Keppel Corp. and Sembcorp Marine.
Business Development focuses on finding new growth opportunities for the organization, whether it is through acquiring new customers, market expansion and/or brand awareness. The primary goal is to build partnerships that allow leverage to drive revenue. Although often thought to be synonymous with sales, business development involves a mix of negotiations, marketing, networking, and project management to create long-standing relationships and profitability.