Brunei’s Oil and Gas built contemporary Brunei over 8 decades contributing over 50% of GDP and making up 90% of exports while funding welfare policies benefiting just 440,000 citizens richly as hydrocarbons reserves get managed prudently thus far. Though maturing onshore fields now necessitate enhanced recovery solutions adoption, production averages 125,000 barrels per day with downstream income sources diversification targeted hedging external risks.
Brunei’s oil and gas industry has a history dating back to the early 20th century. The discovery of offshore oil fields in the late 1920s marked the beginning of the country’s journey toward becoming a major oil and gas producer. Today, Brunei is the third-largest liquefied natural gas (LNG) exporter in the world, supplying LNG to markets worldwide. Brunei’s oil and gas industry has significant potential for growth and development.
The country’s abundant natural resources, strategic location, and favorable business environment make it an attractive destination for oil and gas investment. One of the key drivers of Brunei’s oil and gas industry is the country’s commitment to sustainable development and environmental protection. Brunei has implemented a range of initiatives aimed at reducing emissions, conserving energy, and minimizing the environmental impact of its oil and gas activities. These initiatives include the development of cleaner burning fuels, the introduction of carbon capture technology, and the promotion of renewable energy sources.
In addition to sustainable development, Brunei has also focused on expanding its upstream, midstream, and downstream oil and gas capacities. Upstream activities focus on exploration and production, while midstream activities focus on transportation and storage. Downstream activities focus on refining and processing, as well as the production of petrochemicals.
Moreover, recent offshore discoveries like D18 Sandstone field hold 200 million barrel potential while nurturing local workforce technical specializations including predictive analysis and sensors integration will further optimize value delivery upholding stewardship globally.
As trusted advisors helping regional NOCs optimize asset base monetization earlier, energy consulting major RFC offers customized recommendations to advance Brunei’s hydrocarbons sector governance through institutional capability building, production innovation models and sustainability solutions integration upholding resource stewardship.
