Brunei oil and gas 26 billion Brunei dollars (US$2. 1 per cent. Mar 19, 2025 · Brunei GDP: Oil and Gas sector data was reported at 2,378. 4). $6,480. 06/13/2024: TotalEnergies sells its subsidiary in Brunei 04/07/2020: TotalEnergies keeps the pace of divestments with asset sales in Brunei, Sierra Leone and Liberia of oil and gas extraction increased steadily from 49. Feb 11, 2023 · Seria Energy Lab (SEL), formerly known as Oil and Gas Discovery Centre (OGDC) aims to create an education centre for visitors to understand and appreciate the oil and gas industry which has been the strong supporter of Brunei Darussalam’s economy. The country is known for its large oil and gas reserves, which are managed by the state-owned oil company, Petroleum Brunei. Natural gas production follows a similar trajectory. BSP is an upstream business and its core activities include exploring for and producing oil and gas from onshore and offshore fields for domestic use and export to international markets. Feb 28, 2025 · Accelerate your oil and gas strategies with unrivalled real-time data, immediate insights and trusted fiscal coverage. straight quarter as exports of minerals including oil and gas fell compared to the same period last year (Figure˜“““” ) Figure ˘ ˘˘ ˘ Gas and Oil Production Oil and gas production remained at record lows in ˝˙˝˘ before rebounding in the fourth quarter Thousand barrel day Crude oil Liquefied natural gas Q Q Q Q Q Q Q Q Thousand Blog Archive 2025 (65) 2025 (65) Jun (1) The Great Exit: Is Brunei’s Oil and Gas Sector Run Feb 2, 2024 · In Q4 2023, GDP at constant prices, recorded a positive growth of 6. Description: This map shows oil and gas infrastructure in Brunei. | 22,165 followers on LinkedIn. Oil and gas extraction industry gross Feb 17, 2025 · “We are excited to invite all interested oil and gas companies to partake in our upcoming Brunei Offshore Licensing Round. We lead several community outreach initiatives in the country. We expect this acquisition to increase the percentage of gas in the group’s daily production from 36% to nearly 50%, helping the company move closer to its net zero 2050 goal. While Brunei has made progress in Mar 2, 2025 · Brunei's government revenue for the 2025/2026 fiscal year is expected to reach 3. 691 Barrel/Day th from Dec 1960 to 2023, with 64 observations BSP is by far the largest oil and gas producer in Brunei Darussalam responsible for more than 90% of the country’s daily production. Mar 2, 2022 · BANDAR SERI BEGAWAN – Brunei plans to ramp up production in the upstream and downstream oil and gas sectors after discovering 42 million barrels of oil equivalent at an undisclosed location last year. The oil and gas industry is the backbone of the Bruneian economy, accounting for over 90% of its exports and government revenue. S. BSPSustainably Powering Brunei | Since the discovery of the Seria field in 1929, Brunei Darussalam has forged an enduring Jan 28, 2025 · National oil and gas company Petronas is wrestling with cost and capacity issues in its efforts to secure major contractors for the complex Kelidang gas project offshore Brunei Darussalam. Brunei Crude Oil: Production was reported at 67. This decline was driven by reductions in both natural gas and liquefied natural gas (LNG) production. 3783 hectares located at Lot 42, Tapak Perindustrian Sungai Bera, Seria KB3533, Belait Brunei Darussalam's economy contracted in Q4 2024, primarily due to a downturn in the Oil and Gas Sector. 1 per cent and the Non-Oil and Gas Sector by 3. Crude oil production has fallen from a peak of 220,000 barrels per day in 2006 to less than 90,000 barrels per day in 2023. Expanding the role of the downstream oil and gas industry and other non-extractive industries will strengthen the economy’s resilience when global oil and gas markets are disrupted, and it will move the economy forward in terms of 5 days ago · Brunei - Oil, Gas, Trade: Brunei’s economy is almost totally dependent on the exploitation of its vast reserves of petroleum and natural gas. In order to ensure that the country's commitment to export gas can be satisfied Jul 11, 2024 · GlobalData uses proprietary data and analytics to provide a complete picture of the natural gas sector in Brunei in its report, Oil and Gas Upstream Production and Capex Outlook by Projects (Crude and Condensate and Natural Gas), Fields (Active, Planned and Announced), Region, Key Countries, Companies and Forecast, 2023-2027. 7% in 2010 to 60. This records an increase from the previous number of 2,358. Sdn. 3% of Brunei’s GDP in the second quarter of 2024, according to government data. Since then it has been deliberately cut back to extend the life of oil reserves and improve recovery rates. Energy Minister YB Dato Hj Mat Suny Hj Md Hussein said that drilling will begin on several exploration wells this year, adding that a few blocks will be tendered out to attract new operators to %PDF-1. 6 %âãÏÓ 59 0 obj > endobj 82 0 obj >/Filter/FlateDecode/ID[9EA10426DA1521498F518427BE451935>9EF2AF415500AA40B63BC375B745092A>]/Index[59 49]/Info 58 0 R Brunei LNG (BLNG), located in Lumut, Belait District, [2] is the largest oil and gas producer in Brunei [3] and has been a key player in the country's energy sector since its establishment in 1969. 3% and electricity 18. com Brunei’s oil and gas industry has come a long way since the first well was discovered in 1899. Feb 13, 2024 · Oil and Gas. Brunei Darussalam’s oil and gas industry has been the source of strength for the nation’s economy. Its oil and gas sector had experienced production disruptions following hundreds of Feb 13, 2024 · Oil and Gas. As the fourth largest oil producer in Southeast Asia and the ninth largest liquefied natural gas (LNG) producer globally, [ 4 ] [ 5 ] BLNG has Since commencement of business, we have provided specialized oil and gas related equipment, products and services to the Oil and Gas, Petrochemical and Power Industry. However, thanks to a surge in oil prices last year, Brunei’s fiscal position has been improving. International Affairs. Aug 27, 2024 · Brunei's crude oil production stood at 73,000 barrels per day in the first five months of 2024 and 70,000 b/d in full-year 2023, down from 73,000 b/d in 2022. BSP has made significant strides in Bruneianisation, increasing from a level of 75% in 2009 to 89% in February 2022 through its ongoing efforts in developing the capabilities of Jan 18, 2022 · In addition, while Brunei considers Hengyi’s petrochemical products as part of the non-oil and gas sector, such products are still related to the oil and gas industry. Oil exports account for more than 95% of the country's total exports, and it has proven oil reserves equivalent to 188 times its annual consumption. Feb 22, 2024 · Brunei’s oil and gas fields produce approximately 127,000 barrels per day (bbl/day) and 243,000 barrels of oil equivalent of natural gas per day. The revenue of the natural gas and oil sector accounts for about 70% of the country’s gross domestic product (GDP). Learn More Map of oil and gas in Brunei Click to see large. Brunei’s revenues continue to be highly dependent on May 16, 2023 · Brunei has been producing oil and gas since 1929 and also exports LNG. One of the government’s economic objectives is to grow and diversify Brunei’s downstream oil and gas sector. Brunei hopes to increase production in the coming years. Asset Report Brunei LNG - Commercial Feb 14, 2024 · Growth has been revised downwards repeatedly, reflecting major disruptions in oil and gas production and challenges in the rejuvenation of offshore fields. On 31st December 2019, His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam consented to the Petroleum Authority of Brunei Darussalam Order, 2019. Oil & Gas Advisors' assessment of the key oil and gas operating and fiscal regimes. Mar 1, 2025 · The GDP contribution of the downstream oil and gas sector has increased from 136 million Brunei dollars (US$101 million) in 2017 to 1,241 million Brunei dollars (US$927 million) in 2023, according Energy Information Administration - EIA - Official Energy Statistics from the U. 1. The non-oil and gas sector, which features petrochemicals and other industrial activities, accounted for the remaining 49. Upstream Regulatory Brunei Darussalam’s upstream sector is the biggest contributor to the country’s oil and gas industry with over 90 years of exploration and production activities. Feb 17, 2025 · With improved contract terms and promising exploration potential, Brunei’s 2025 licensing round presents a rare and valuable opportunity for international oil and gas companies to secure acreage in one of Southeast Asia’s most resource-rich hydrocarbon provinces. Invitation To Participate: Brunei Offshore Licensing Round 2025 Brunei Darussalam has a long-standing history as one of the world's key producer in the oil and gas industry, and we are seeking enthusiastic and innovative players to help unlock the remaining hydrocarbon potential in these offshore areas, leveraging proven Brunei is one of the highest per capita income countries in the Asia and the Pacific region owing mainly to its significant natural gas and oil resources. Nov 8, 2024 · Brunei's economy is heavily reliant on exports of crude oil and natural gas, with the petroleum sector accounting for over half of its GDP. Jun 13, 2024 · We are mainly active in Brunei through our gas production activities. Although oil and gas revenues have allowed the state to give its citizens one of the highest per capita incomes in Asia, they also have made the country dependent on a single commodity that is subject to market fluctuations. Brunei is currently Asia's third largest oil and gas producer. Current downstream activities include the Brunei Methanol Company Sdn Bhd (BMC) methanol plant in operation since 2010, the multi-billion-dollar Pulau Muara Besar (PMB) Refinery and Petrochemical Plant operated by Hengyi Industries Sdn Bhd since the end of 2019, and the Our People Strategy is aligned to the Bruneianisation Directive which requires Oil and Gas operators in Brunei to achieve 90% Bruneians at all levels and skillpools. ENB Future of Energy Report 2023 ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region. Today BSP is the largest oil and gas company in Brunei Darussalam. This represented the same level of production as in the previous year. This licensing round offers a unique opportunity to explore and develop promising hydrocarbon blocks and be part of our long-established history of hydrocarbon production,” said the Petroleum Authority of Brunei Feb 9, 2025 · The company is a key player in the Brunei Oil and Gas Jobs sector, and it collaborates with major partners such as Brunei LNG Shell. The basin is home to the giant Seria field, a world-class asset that has produced over 1 billion barrels of oil”. Emissions & Carbon Management Diversify your carbon management portfolio with detailed CCUS, offset and emissions data, all on one place. 0% of final energy consumption, followed by natural gas at 32. Brunei Darussalam's economy is heavily dependent on the oil and gas sector. In 2020, Brunei experienced a large fiscal deficit due to a sharp drop in global oil prices when COVID-19 ravaged the world. 82 The Sultanate of Brunei Darussalam is a small but rich country that is most notably known for hydrocarbon resource abundance. 0%). 067% of the world’s total oil reserves of 1,650,585,140,000. As the third-largest oil producer in Southeast Asia, it produces an average of 180,000 barrels of oil per day, with recent years seeing a production of 127,000 barrels per day (2024) and 93,000 barrels per day (2023). 1%), and industry (10. Wood wins major $250m contract extension from Brunei Shell Petroleum we have been the go-to source for independent news and analysis of the major oil and gas projects shaping the industry and The central authority regulating the Brunei Darussalam oil and gas industry. The production of hydrocarbons now accounts for around half of the nation’s GDP. The regulatory framework for petroleum activities is designed to give As a resource-rich country, Brunei Darussalam’s economy depends heavily on developments in the oil and gas sector. Brunei Shell Petroleum is the dominant player. Its economy heavily relies on oil and gas, accounting for over 91 per cent of total commodity export and 76 per cent of government revenue. Oil accounted for 49. Rennah Services Sdn Bhd’s Office, Warehouse and Workshop Facilities occupy an area of 0. Oil is formed from the remains of tiny plants and animals that lived in ancient oceans millions of years ago. Dec 16, 2024 · The oil and gas sector (extraction and liquified natural gas production) accounted for 50. 2 million tonnes of LNG annually. Bhd. Our focus is to ensure that the oil and gas sector remains stable and sustainable to drive socio- economic growth. 1 billion barrels in 2023. 22. See full list on factsanddetails. 468 Barrel/Day th in Dec 2023; This records a decrease from the previous number of 70. Discovered and exploited gas could find a ready home at the five-train Brunei ‘others’ (22. 8 per cent in Q4 2023 following an increase in the Oil and Gas Sector by 11. The Bruneian authorities have — for the last few decades — recognized the importance of diversifying their economy to build resilience, and had planned since the late 1990s to expand the main economic drivers to non-resource sectors. 57. MLJ is located offshore Brunei Darussalam, within a prolific hydrocarbon-bearing region. Dec 20, 2024 · This is a quality gas asset producing to an onshore LNG facility. The brunei-darussalam page also provides a cross-reference to the basins contained within it, as well as its regional members. Brunei is preparing to tender concessions for deep water oil and gas exploration. Energy Policies 3. The majority of Brunei's oil and gas profits come from Brunei Shell Petroleum (BSP), the country's main oil producer. Brunei has been known for its reserves of oil and gas, which has fuelled it’s economy for the past 85 years and more. dollars), with 75 pe rcent, or 2. But why is Brunei so rich with oil? Let's explore the geological factors that contributed to the formation of oil deposits in Brunei. The energy industry is overseen by the Petroleum Authority of Brunei Darusallam, which hands out PSCs and ensures participants adhere to policies set down by the state. Mar 24, 2025 · Brunei experienced strong economic growth in 2024, buoyed predominantly by its oil and gas sectors, though sustaining this growth in the near future may prove challenging. 42 billion U. The development of highly skilled Bruneian workforce has contributed to the success of the oil and gas industry today, which is made possible by facing challenges head-on with determination, persistence, and innovative thinking. 3. The nation is recognizing the need for diversification, with new opportunities for economic diversification arising such as advancements in the tech industry, shifting global Brunei Shell Petroleum Co. Buy the report here. Executive Directors commended the authorities for the strong, timely, and multi -pronged policy response to the COVID -19 pandemic and associated decline in oil and gas prices. The country's reported oil reserves were last estimated at 1. 45 billion Brunei dollars (US$1. Sep 18, 2024 · The oil production in Brunei stood at around 93 thousand barrels per day in 2023. Over the last decade, Brunei Darussalam has made substantial investments in the expansion of its downstream industries to diversify its product portfolio in the oil and gas value-chain. They are also a major source of air pollution, which is responsible for at least five million premature deaths every year. Key information about Brunei Crude Oil: Production. Regulatory Framework The Petroleum Authority of Brunei Darussalam Act, Chapter 231 provides the establishment of Petroleum Authority (PA), a statutory body, acting as a central authority (regulator) to regulate and supervise the Upstream, Midstream & Downstream oil and gas operations in Brunei Darussalam. Government Feb 17, 2025 · ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise. 841 BND mn for Sep 2024. 958 BND mn in Dec 2024. 693 Barrel/Day th for Dec 2022; Brunei Crude Oil: Production data is updated yearly, averaging 147. 630 BND mn (Median) from Mar 2018 to Dec 2024, with 28 observations. Brunei GDP: Oil and Gas sector data is updated quarterly, averaging 2,529. 7% in 2021 (Figure 2. Brunei Shell Petroleum (BSP) is the largest oil producer in Brunei and contributes around 90 per cent to Brunei’s oil and gas revenues. BSP oil and gas gets loaded on ships and sent every day to countries such as Japan, Korea, Indonesia, Australia and numerous others around the world. . Note: Exports of oil refinery are AMRO staff estimates given data unavailability. Brunei Darussalam holds 1,100,000,000 barrels of proven oil reserves in the world as of 2016, ranking #39 in the world and accounting for about 0. 6% Nov 10, 2024 · The economy will need to diversify beyond oil and gas. Mar 20, 2023 · The oil and gas industry is the backbone of Brunei's economy, accounting for more than 90% of its GDP. [3] The Oil Conservation Policy, in effect since 1981 when oil production reached its peak, is a crucial piece of legislation for the oil sector. The expansion in the Oil and Gas Sector was due to a rise in the production of crude oil, natural gas and LNG. Source: DEPS; AMRO staff calculations. Mar 14, 2022 · Brunei’s crude production plunged to a record low in the third quarter of 2021 at 97,100 barrels per day. 7%. Brunei's oil production peaked in 1979 at over 240,000 barrels per day (38,000 m 3 /d). May 15, 2023 · The dependence on the oil and gas (O&G) sector also means that the economy is susceptible to global energy price shocks. Feb 22, 2024 · Overview. But the burning of fossil fuels – coal, oil, and gas – is responsible for around three-quarters of global greenhouse gas emissions. Brunei LNG Job Vacancies BLNG Careers has five steam-powered liquefaction trains and produces 7. Supply Brunei Darussalam continues to strengthen upstream oil and gas activities to ensure long-term energy security and sustainability of oil and gas reserves. crlh fbnl cvnhyeh gprlgd cfw fzmvp biimybq ugeh redtp vawtbrp