Global tensions continue to rise over disputed claims of sovereignty in the South China Sea, a region with significant proved and probable hydrocarbons reserves. While…
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2024 oil reserves:1.1 billion barrels
2024 oil production:90,000 bopd
2024 gas reserves:222 bcm
2024 gas production:9 bcm
Brunei’s oil and gas sector has come a long way since the first commercial oil discovery in 1929. The production of hydrocarbons now accounts for around half of the nation’s GDP. The energy industry is overseen by the Petroleum Authority of Brunei Darussalam, which hands out PSCs and ensures participants adhere to policies set down by the state.
Brunei Shell Petroleum is the largest oil producer in the country, accounting for around 90% of oil and gas revenues. A 50:50 joint venture between super-major Shell and the government of Brunei, the integrated energy company BSP has been active in the country since 1929. The country’s key refining facility is the 175,000-bpd Hengyi complex.
New extracting technologies have made the country’s mature fields and deepwater ventures economically viable, and the state is focused on attracting new players into its oil and gas ecosystem. The country’s downstream sector has become equally vibrant with facilities producing LNG, methanol and other petrochemicals. The government has focused on building its petrochemicals capacity as it aims to up production and maximise on the economic potential of its remaining reserves.
Brunei’s decarbonisation agenda is increasingly shaped by its National Climate Change Policy, which sets 10 strategic pillars to 2035, including industrial emissions reduction, renewable energy deployment and power management. The country has also set targets to expand solar PV capacity and raise the share of renewables in its power generation mix, while assessing options such as carbon capture and storage and hydrogen to decarbonise hard-to-abate segments of the economy.
McDermott has secured an EPCIC contract from Petronas Carigali for a natural gas project offshore Brunei.
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Keio Kato of Caribbean Gas Chemical Limited talks about reducing emissions through process upgrades.
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The Petroleum Authority of Brunei Darussalam is inviting competitive bids for two offshore oil and gas blocks.
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TotalEnergies will sell its upstream assets in Brunei to Hibiscus Petroleum for $259.4 million.
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Riyadh Moosa, CEO of iNNOVATEQ, talks to The Energy Year about how the company uses technology to identify efficiency gaps in oil and gas asset management, its…
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Maersk Drilling has signed a USD 42.5-million sales agreement with ADES International Holding for the Maersk Convincer jackup rig, the Danish rig operator announced on…
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Sarawak Shell Berhad has taken its final investment decision on the Timi gas development in Malaysia, parent company Royal Dutch Shell announced on Monday.
The Timi…
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Global tensions continue to rise over disputed claims of sovereignty in the South China Sea, a region with significant proved and probable hydrocarbons reserves. While…
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TOGY talks to T.G. Zhang, Senior vice-president and general manager of Siemens China. The company has been active in China across numerous industries and sectors…
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SapuraKencana Petroleum has signed a slew of contracts for offshore work amounting to USD 299 million in recent weeks, the Malaysian operator announced on…
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