Oil output abroad to help achieve target of 650,000 barrels a day by 2035

National 1 minute, 35 seconds

BANDAR SERI BEGAWAN

OIL production abroad will contribute about 2.3 per cent of Brunei’s targeted 650,000 barrels of oil production a day by 2035, said the Minister of Energy at the Prime Minister’s Office.

In a telephone interview with The Brunei Times yesterday, Yang Berhormat Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Hj Mohd Yasmin Hj Umar said 50,000 barrels of oil are expected to be produced overseas.

Part of the 50,000 barrels of oil production a day will come from exploration in Myanmar after Brunei National Petroleum Company (PetroleumBRUNEI) acquired a 87.25 per cent stake at Block EP-1 of the onshore Kyaukkyi Mindon area in Myanmar.

The production sharing contract for Block EP-1 took place between PetroleumBRUNEI, Myanma Oil and Gas Enterprise and International Group Enterprise Pte Ltd at Nay Pyi Taw in Myanmar yesterday.

The minister said exploration will begin in the next three to six months, and that at least two Bruneians would be working on this project in Myanmar.

“The number of Bruneians being sent there will grow once we start with the exploration,” he said, adding that Bruneians would be provided opportunities to work abroad in the energy sector.

YB Pehin Dato Hj Mohd Yasmin said more than 20 international bidders had participated in the 2013 Myanmar Onshore Bidding Round, and was pleased that PetroleumBRUNEI was awarded the production sharing contract.

“It was a transparent process and was very demanding. I would like to congratulate PetroleumBRUNEI for being awarded, and it was all based on its merit and ability to carry out the job,” he added.

The minister said the oil exploration contract would not only benefit Brunei in terms of increasing its gas production, but also place PetroleumBRUNEI in the international arena.

“Major companies do not just operate on their own turf, but abroad as well. So basically for us, this is a proper international platform to boost our reputation,” he said.

The Brunei Times