Energy

Plans to complement domestic production by undertaking international exploration support the Sultanate’s target of reaching an output of 650,000 barrels of oil equivalent per day by 2035. Downstream, the government is investing in development of its petrochemicals sectors. The country today is primarily an exporter of liquefied natural gas, which is shipped to Japan, South Korea and Malaysia, and is a significant oil supplier to the Asia-Pacific region. Its oil and gas output is likely to stabilise in the near to mid-term as investment in both exploration and the development and refurbishment of older fields has significantly accelerated. In the longer run, the country’s success will largely depend on the size of its deepwater resources and how well the government can rally the resources for their exploration and development.

This chapter contains interviews with Pehin Dato Yasmin Umar, Minister of Energy; and Ken Marnoch, Managing Director, Brunei Shell Petroleum; along with a roundtable with Hj Awang Hj Ali, Executive Chairman, Belait Shipping; Supna Karwanamurthi, Managing Director, FLUX O.S.; Mohd Shafie Mohd Yusof, Managing Director, Petrokon Utama; and Amir Osman, Managing Director, PTAS Group.