Asian oil and gas companies offer attractive investment opportunities, according to Pimco's February 2013 Asia Credit Perspectives.

Many Asian countries, and China in particular, face rising energy deficits. Dependence on oil imports, which have doubled in China over the last decade, is one key indicator.

Governments have strong incentive to support the energy sector because it is a key driver of economic growth. This extra support is most prominent in state owned energy companies, which in turn makes them attractive to investors.