Offshore exploration and development in Brunei waters largely ceased in 2003 after Malaysia disputed the exact maritime boundaries between the two nations. In March 2009, the two nations signed agreements which defined these boundaries, and which allocated profits from oil and gas development to each nation on a percentage basis, when the oilfield lay in a cross-boundary area. Joint development of offshore petroleum resources began again.[3][4] By 2013, Brunei was the fourth-largest oil exporter in south-east Asia. It exported about 160,000 barrels of oil per day.[5]
In October 2013, China National Offshore Oil Corporation and PetroleumBRUNEI established a joint venture to provide oilfield services.[5] Brunei, which was the world''s ninth-largest liquified natural gas (LNG) exporter in 2013,[5] also created a joint venture with the Malaysian oil company, Petronas, to build a natural gas liquification plant in British Columbia, Canada. The move would give PetroleumBRUNEI new and additional expertise in the LNG industry.[6]
PetrleumBRUNEI received its first lease to explore and develop petroleum right in a foreign nation in 2014, when it won an auction for onshore rights in an area of Mayanmar. The project there would be jointly developed with Myanma Oil and Gas Enterprise.[7]
The 2009 maritime boundary agreement led to talks which did not reach a conclusion until 2019. A change in the Malaysian government led to new leadership dissatisfied with the percentage of profits received by Malaysia from the newly created Commercial Arrangement Area.[4][8] These and other disputes were apparently resolved in June 2019, and PetroleumBRUNEI and Petronas agreed to accelerate development of large new natural gas resources discovered in the Kelidang gas field.[9] Petronas cancelled the joint development operation in March 2020.[8]
PetroleumBRUNEI had originally been given responsibility for both petroleum industry development and regulation. However, in April 2020, regulatory authority was taken from the corporation and given to the new Petroleum Authority Brunei Darussalam.[10][11][12]
Explore the journey of Brunei Energy Services & Trading as it shapes the future of national energy.
Welcome to Brunei Energy Services & Trading Sendirian Berhad, your trusted partner in the dynamic world of oil and gas trading and services.
To Be A Globally Recognised National Energy Company
Pursuit of Excellence To Fuel National Aspirations
At BEST, we pride ourselves on having a steadfast commitment to excellence whilst we navigate the complexities of global markets to deliver results to our clients.
Our approach is to ensure that transparency, integrity and client satisfaction are at the core of our trading philosophy. We operate with unwavering ethics and integrity to ensure that every transaction is conducted with the utmost professionalism and fairness. At the heart of our operations lies a steadfast commitment to excellence.
For over 10 years, we have successfully traded more than:
Our clientele embodies a diverse spectrum of industry giants, from esteemed national oil companies to multinationals, all entrusting us with their vital energy needs. With over 90 registered vendors, our network is robust and meticulously curated to ensure the highest
We are redefining the landscape of midstream and downstream energy opportunities where our commitment is to foster sustainable growth within the domestic market.
We understand the critical role of midstream and downstream operations in maximizing the value chain of natural gas resources. Through strategic partnerships, we are actively engaged in domestic projects aimed at optimizing Brunei Darussalam''s gas processing infrastructure and enhancing revenue streams.
We are dedicated to meeting the burgeoning energy demands of the nation. Though targeted expansion initiatives, we aim to address the country''s domestic energy requirements effectively and contribute to the establishment of a reliable and sustainable energy ecosystem, powering both businesses and households.
In the dynamic world of upstream energy exploration and production, where our sister companies are at the forefront of unlocking the potential of oil and gas reserves both domestically and internationally. As partners in producing blocks operated by major industry players, we are committed to driving excellence and innovation in every facet of operations.
Through strategic alliances with leading oil and gas operators, we have secured a foothold in producing blocks in Brunei Darussalam, Canada and Malaysia. In the domestic landscape, we are actively engaged in maximizing the potential of the blocks, contributing to the nation''s energy security and economic prosperity. Internationally, we collaborate with our partners to unlock new frontiers and capitalize on emerging opportunities.
As proud partners in upstream ventures, our sister companies embody the spirit of collaboration, innovation and responsible stewardship.
Brunei Energy Hub Dermaga Diraja (Malay: Hab Tenaga Brunei Dermaga Diraja) or Brunei Energy Hub in short, is a gallery and museum located in Pusat Bandar of Bandar Seri Begawan. It was originally initiated in 1952 and completed in 1956 as the Royal Customs and Excise Building,[1] a wharf for administrative purposes. Over time, its function has evolved to showcase historical and economic significance of Brunei''s energy sector while preserving its blend of colonial and constructivist architectural styles.[2]
The renovation project, which was entirely sponsored by Brunei Shell Petroleum (BSP), has been transformed into Brunei–Muara District''s interactive oil and gas museum. It is located at the Dermaga Diraja Bandar Seri Begawan and has the Raja Isteri Pengiran Anak Hajah Saleha Bridge as a backdrop, seeks to act as a knowledge centre for the oil and gas sector and a venue to encourage the growth of Brunei''s artistic scene.[1]
One of the country''s oldest government agencies is the Customs Department (present day Royal Customs and Excise Department), which was founded in the early 1900s to oversee the import and export of products under the authority of British Residents. Built at the end of Jalan Sultan between the 1920s and 1930s, the original wharf was mostly composed of wood and lanting (pontoon). An essential first step in stabilising Brunei''s infrastructure, social growth, and economy was the establishment of the department. Plans to extend the customs wharf started in the middle of the 1950s, and by 1956, a new, bigger facility next to Jalan McArthur had been built.[2]
Given that it allowed ships to dock and made it easier to load and unload cargo, the wharf was important to Brunei''s commercial activity. The importance of the customs facility steadily diminished when Muara Port was created and inaugurated in 1972 in response to Brunei''s growing demands. The department relocated to a new location by 1998, leaving the former structure empty. In the end, it was designated as a historical monument and used as a visitor center, cafés, and an art gallery.[2]
The hub contains information regarding the oil and gas sector in the country. It has a canteen, a gift shop, an observation deck, and four exhibition halls. The fourth gallery is organised by the Museums Department of the Ministry of Culture, Youth, and Sports, whereas the first three galleries are organised by BSP. It includes:[8]
BANDAR SERI BEGAWAN (Borneo Bulletin/Asia News Network): Perdana Solutions Sdn Bhd and Asia Pacific Energy Solutions (APES) on Thursday (Jan 27) signed an agreement on the first Brunei carbon capture and storage partnership, aimed at further developing the implementation of carbon capture and storage value chain, and providing large scale, effective and sustainable decarbonisation solutions in the country.
Signing on behalf of Perdana Solutions Sdn Bhd was its Director An-Mu''az Zainal (Shell LiveWIRE Brunei Business Network Alumni) while APES Sdn Bhd was represented by its Director Diego A Vazquez Anzola.
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Brunei''s 420,000 residents are Southeast Asia''s biggest polluters despite contributing just 0.025 per cent of global greenhouse gas emissions in 2018. The hefty carbon footprint is due to the sultanate''s complete dependence on hydrocarbons for its domestic energy requirements. Gas powers 98.95 per cent of its electricity needs. Oil takes up one per cent, while a 1.2 megawatt (MW) demonstration solar plant – currently Brunei''s only source of renewable energy – supplies 0.05 per cent.
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