Energy sector to fire up economic reshaping

National 1 minute, 30 seconds


THE energy sector must serve as the starting point of the country’s diversification as it forms the backbone of Brunei’s economy, said Brunei Shell Petroleum Company Sdn Bhd’s (BSP) Managing Director.

Ken Marnoch said oil and gas operators can facilitate this, both within the energy industry and in other industries.

Speaking to the Oxford Business Group for The Report Brunei Darussalam 2014, he said promoting education and entrepreneurship is crucial, and there are already initiatives to help support the emergence of local talent that will sustain the sector in the future.

For example at BSP, he said they work with the Ministry of Education on the Brunei Entrepreneurship Education Scheme, which helps students set up and run their own companies so they can develop a business-minded approach early on.

To support local small and medium enterprises, BSP runs programmes like LiveWIRE Brunei.

Meanwhile, Marnoch said the oil and gas industry has a part in developing other sectors as well.

“We play a strong supporting role in creating downstream industry and power-generation projects, and facilitate growth in the construction sector,’’ he said.

The managing director said they have been discussing use of their data centre as a secure backup for others (here and abroad), which could put Brunei in a stronger position to serve as a regional hub for data.

Marnoch feels the country also has the capacity to develop industries like information and communications technology.

He added Brunei is also strong in safety training and management, with the potential to export that expertise around the world.

“In this way, Bruneian companies that are linked to the energy industry and have highly mobile elements of the knowledge economy hold great potential to establish themselves and succeed internationally, thus aiding the country’s economic diversification,” he said.

The Brunei Times