Brunei oil news. Brunei Darussalam’s gross domestic product (GDP), at constant prices, grew at 6. Outside of oil, few industries can match its income, stability, or national importance. Originally known as the British Malayan Petroleum Company (BMPC), it was established in 1922 with concessions across Brunei. The plant, partly owned by Mitsubishi and Shell, has a 7. The contract, which runs until 2022… CGG Wins 6-year Contract for Brunei Shell Petroleum China and Brunei have pledged to work together on oil and gas exploration in the South China Sea, though a Chinese analyst noted that more negotiations were needed for energy cooperation to move BANDAR SERI BEGAWAN: Brunei Darussalam has underscored its commitment to ensuring stability, transparency, and long-term sustainability in the global oil market during the 40th Opec and Non-Opec The government emphasized its commitment to fostering innovation and collaboration in the sector, stating: “Brunei Darussalam has a long-standing history as a key oil and gas producer. The concession currently runs through November 2029, with options to extend beyond this period, subject to agreement with the partners. China’s Hengyi Petrochemical Co. Petroleum Authority of Brunei Darussalam is the regulatory body for the oil and gas industry in Brunei. com's offering. (JAPEX) from April as the company seeks to stabilise Brunei needs to pivot towards economic diversification and future high-growth industries to fill the void left by traditional oil and gas exports. Brunei Darussalam's long-term prosperity depends on its ability to leverage existing strengths and convert into future opportunities. Brunei’s oil sector must adapt to this new reality to remain competitive. The GDP contribution of the downstream oil and gas sector has increased from 136 million Brunei dollars On a tiny island off Brunei’s northern tip on the South China Sea, thousands of Chinese workers are building a refinery and petrochemical complex, along with a bridge connecting it to the The GDP contribution of the downstream oil and gas sector has increased from 136 million Brunei dollars (101 million U. The country benefits, amongst others, from political stability, strong oil and gas infrastructure, a strategic Southeast Asian location, and a young, educated population. Brunei Darussalam in 2025 is offering two offshore blocks for competitive bidding in a rare licensing exercise — its last bid round was more than a decade ago — which the government hopes will BANDAR SERI BEGAWAN: Brunei's economy continues its robust recovery, stimulated by modest inflation and macroeconomic stability, an Asean think tank has said, reported Xinhua. 5%). Brunei LNG is safely restarting its facility after an "operational upset" caused a shutdown. Wood wins a contract extension from Brunei Shell Petroleum Wood will deliver the rejuvenation of BSP's offshore asset energy portfolio to maximise production capacity This event marks another milestone in the cross-border collaboration between Malaysia and Brunei, reinforcing regional cooperation in deepwater oil production. The Executive Board of the International Monetary Fund (IMF) concluded on September 16, 2024 the Article IV consultation with Brunei Darussalam on a lapse-of-time basis. will embark on a long-planned expansion of its Brunei oil refinery, more than doubling its capacity in the country and intensifying competition in global markets The establishment of Petroleum Authority of Brunei Darussalam marks another important milestone in the development of the oil and gas industry in an effort to further realise Wawasan Brunei 2035. Oil wealth has delivered much for Brunei, guaranteeing high standards of living and economic independence, which has enabled the tiny sultanate to pursue it's own political and religious agenda. Block C is located offshore Brunei Darussalam and hosts the condensate-rich gas discovered fields of Merpati, Meragi and Juragan. 4% in six years, government figures showed. dollars) in 2017 to 1,241 million Brunei dollars (925 million U. The company has upheld high operational standards; however, the global energy market is shifting, impacting oil prices and production dynamics. China and Brunei have agreed to collaborate on oil and gas exploration in the South China Sea, focusing on “mutually agreed areas” while respecting international law, including the United Nations Convention on the Law of the Sea (UNCLOS). In its Economic Outlook for 2025, Brunei's Centre for Strategic and Policy Brunei's government has proposed a national budget of 6. The central authority regulating the Brunei Darussalam oil and gas industry. The "Brunei Oil and Gas Strategic Analysis and Outlook to 2032" is an all-encompassing report that delivers a full-spectrum evaluation of the nation’s oil and gas value chain—from exploration and production fields, refinery and LNG plant operations, to midstream pipelines and storage infrastructure in Brunei. 1 billion barrels in 2024. Bhd. Follow the latest news and comprehensive coverage on Brunei at CNA Brunei's crude oil production stood at 84,000 barrels per day in the first half of 2025 and 79,000 b/d in full-year 2024, up from 70,000 b/d in 2023. The partners are Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27. DUBLIN--(BUSINESS WIRE)--The "Brunei Oil Gas Market Trends, Infrastructure, Companies, Outlook and Opportunities to 2028" report has been added to ResearchAndMarkets. 0 per cent in the second quarter (Q2) of 2024, driven by a 7. 5% operated interest in the gas producing Block B Maharajalela Jamalulalam field offshore Brunei Darussalam. EnQuest intends to develop these fields in stages, beginning with Merpati Field. Jun 3, 2025 · Brunei’s repeated pledges to diversify its economy have yet to bear real fruit. 7-per-cent increase in the oil and gas (O&G) sector 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. dollars) in 2023, according to the royal address by the Sultan during the opening of the First Meeting of the 21st Session of the Legislative Council. While Brunei has made progress in The oil price recovery in 2024, with average prices climbing to $88. KUCHING (Feb 26): Brunei Darussalam’s hydrocarbons sector remains a key driver of its economy and continues to play a vital role in meeting global energy demand. 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 Brunei's downstream oil and gas sector has made significant progress, Brunei king Sultan Hassanal Bolkiah had announced at the Legislative Council this week. We invite enthusiastic and innovative players to help unlock the remaining hydrocarbon potential, leveraging proven basins and uncovering new discoveries. The oil and gas industry will continue to dominate Brunei's economy, with substantial contributions anticipated from the downstream oil sector, Brunei's top think tank has announced. Russia will deliver oil to Brunei via the Northern Sea Route for the first time this September, expanding its export reach through the strategic Arctic passage, two sources familiar with the News Petroleum Authority regulates existing oil and gas sector operations to ensure maximization of strategic value from oil and gas block and operations in Brunei Darussalam. 26 (Xinhua) -- Brunei's downstream oil and gas sector has made significant progress, Brunei's Sultan Haji Hassanal Bolkiah said at the Legislative Council on Wednesday. It now has a 37. Oil prices rose around 2% on Thursday to settle at their highest level in six months, as traders worried about escalating tensions between the United States and Iran, which have stepped up The oil-rich kingdom of Brunei is trying to diversify its economy as oil production wanes. The Brunei Midstream Oil and Gas Industry Outlook to 2025: All Active, Planned and Announced LNG Terminals, Oil Storage Terminals and Trunk Pipelines - ResearchAndMarkets. Without serious investment in renewables, digital industries, or other value-added sectors, Brunei risks being left with neither oil nor a viable alternative. The country's reported oil reserves were last estimated at 1. Subsea services company Kreuz Subsea has mobilized the recently delivered newbuild dive support vessel, Kreuz Challenger, as part of its seven-year contract with Brunei Shell Petroleum Company Sdn. 89 per barrel, offers a timely opportunity for Brunei to attract investors and reinvest in its energy infrastructure. ” BANDAR SERI BEGAWAN – Brunei is still struggling to get out of a deep recession after record-low oil production in the second quarter of 2022 triggered the biggest quarterly GDP decline of 4. 71 billion) for the new fiscal year, which begins on April 1, 2025. Driving a low-carbon future with reliable, responsible, and sustainable LNG production. Petroleum Authority of Brunei The GDP contribution of the downstream oil and gas sector has increased from 136 million Brunei dollars (101 million U. The government of Brunei has subsidised over BND100 million (RM320 Million) in oil prices even before the Covid-19 pandemic hit, and has been on the increasing trend with the current price hike Brunei LNG: Asia's trusted energy partner since 1969. Brunei Shell Petroleum has rolled out measures in an attempt to ward off disruptions to oil and gas production in Brunei following a significant number of Covid-19 infections detected at offshore With the hydrocarbons industry accounting for more than half of its GDP, Brunei has become a major player in Southeast Asia’s oil and gas industry. 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. Brunei plans to boost production of oil and gas following the discovery of 42 million barrels of oil equivalent last year, according to energy minister BANDAR SERI BEGAWAN, May 2 (Xinhua) -- The oil and gas industry will continue to dominate Brunei's economy, with substantial contributions anticipated from the downstream oil sector, Brunei's top think tank said on Thursday. This report Brunei LNG will start supplying liquefied natural gas (LNG) to Japan Petroleum Exploration Co. Brunei’s repeated pledges to diversify its economy have yet to bear real fruit. 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. 2 million metric ton annual capacity. For nearly three decades, we have been the go-to source for independent news and analysis of the major oil and gas projects shaping the industry and the people behind them. Strategic 2035 blueprint targets food, ICT, tourism, services, and green tech for diversification. From pioneering Snake Wells and Smart Technology to introducing Ocean Bottom Nodes (OBN) and 3D seismic surveys, BSP has consistently pushed the boundaries of innovation in the oil and gas industry. BANDAR SERI BEGAWAN, Feb. As a resource-rich country, Brunei Darussalam’s economy depends heavily on developments in the oil and gas sector. But that independence is being challenged by dwindling oil reserves with oil and gas production expected Brunei Darussalam's long-term prosperity depends on its ability to leverage existing strengths and convert into future opportunities. Despite the challenges, BSP's long-standing reputation for operational efficiency remains a valuable asset. BANDAR SERI BEGAWAN (Borneo Bulletin/Asia News Network): The Department of Energy under the Prime Minister’s Office (PMO), aims to maintain the production of oil and gas at 300 thousand barrels Brunei, [b] officially Brunei Darussalam, [c] formally known as State of Brunei, is a country in Southeast Asia, situated on the northern coast of the island of Borneo. 3% year-on-year in Q2 amid major disruptions to oil and gas production, according to the Department of For more than 90 years, Brunei Shell Petroleum (BSP) has played a central role in writing Brunei’s energy story. The process may involve visible flaring and noise, which the company assures are controlled. com Object moved Object moved to here. Brunei Oil & Gas News Monitoring Service from EIN News; Media Monitoring & Online News Monitoring of Brunei Oil & Gas 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 GKGJE Phase 4 project comprises three oil producers and one water injector, strategically positioned with two wells located in Malaysia and two in Brunei. (BSP). S. 35 billion Brunei dollars (US$4. Jan 6, 2026 · China tightens grip on Brunei’s oil trade after Venezuela setback Refinery in former British protectorate to expand capacity following Maduro’s ousting Discover the meaning, history, and significance of the nation of Brunei the abode of peace, its governance, culture, and role in Southeast Asia. Block A, Bahirah Building, Jalan Dewan Majlis, Bandar Seri Begawan, BB3910 Negara Brunei Darussalam Brunei king Sultan Hassanal Bolkiah has chaired board meetings of Brunei's key energy companies, urging united efforts to face future challenges, local media reported. The nation is recognising the need for diversification, with new opportunities for economic diversification arising such as Brunei Shell Petroleum (BSP) is a joint venture between Shell plc and the government of Brunei, primarily responsible for the exploration and production of oil and liquefied natural gas (LNG). The hydrocarbon sector posted a steep contraction of 9. . Brunei Darussalam Oil & Gas news Aban Offshore Signs for Deployment of Deep Driller 5 Jack-up ADES Secures New Contract for �Compact Driller� Standard Jackup in Brunei AHEAD to Support Decarbonization at Petroleum Refineries Aker Secures Brownfield Services Contract in Brunei Aker Solutions to Extend the Life of Offshore Brunei Fields Amec Foster Wheeler Wins Major Contract by Brunei Field Development Brunei Shell Petroleum awards long-term contract for Brunei operations Jul 17, 2025 · The signing represents the first new PSA award in Brunei in over 10 years, marking a significant revival in the nation’s upstream oil and gas sector and demonstrating Brunei’s ongoing Jul 16, 2025 · News EnQuest secures Brunei’s offshore Block C, targets first gas by 2029 Brunei marks first new production sharing agreement award in over a decade, as part of the Petroleum Authority’s rejuvenation strategy for the upstream oil and gas sector Dec 9, 2025 · McDermott has secured an EPCIC contract from PETRONAS Carigali Brunei for a major offshore gas development, covering subsea systems and a gas export pipeline that will support Brunei’s LNG sector. l4hai, gxxa, 7vzk, elkq, wjntx, oda6v, nqda, ymleu2, kufnft, hc54t,