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Brunei  

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Brunei's Key Energy Statistics world rank
Total Primary Energy Production
2014
0.677
Quadrillion Btu
61
Total Primary Energy Consumption
2014
0.156
Quadrillion Btu
114
Exports of Dry Natural Gas
2014
276
Billion Cubic Feet
25
Dry Natural Gas Production
2014
389
Billion Cubic Feet
40
Proved Reserves of Natural Gas
2014
14
Trillion Cubic Feet
35
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Analysis - Energy Sector Highlights Last updated: March 2016

  • Brunei's small, wealthy economy is based heavily upon proceeds from exports of crude oil and natural gas. Brunei relies on hydrocarbon revenues for nearly two-thirds of its gross domestic product and the vast majority of its merchandise exports and government revenues. Lower international oil prices since late 2014 have dampened the country's export revenues. However, the government intends to bolster investment in its oil and gas sector and diversify the country's economic base by promoting growth in other industries over the long term.
  • Brunei's government latest energy policy from 2014 includes attracting US$50-$57 billion in foreign investment over the next 20 years in hopes of boosting the country's oil and gas reserves and production levels and diversifying the country's energy supply.
  • Brunei's proved oil reserve estimate was 1.1 billion barrels as of the beginning of 2016, the fourth highest in Southeast Asia, according to the Oil and Gas Journal (OGJ). Through its long-standing joint venture with Royal Dutch Shell, Brunei has produced oil and natural gas for several decades, primarily from two large, mature fields - Southwest Ampa and Champion - in the offshore Baram Delta. After reaching a peak of 221,000 barrels per day (bbl/d) in 2006, Brunei's petroleum and other liquids production has declined by nearly half to an estimated 125,000 bbl/d in 2015. Many of Brunei's currently-producing oil and natural gas fields are aging, and much of the shallow waters around the country have been explored. Also, several oil facilities have been undergoing refurbishment over the past few years. Maintenance of these facilities is scheduled to be completed by 2016 at the earliest, which could allow production to recover some recent losses.
  • Brunei has an interest in hydrocarbon development in the South China Sea (SCS), and it makes only one claim in the hotly contested Spratly Islands - the Louisa Reef, a small island that is part of the country's exclusive economic zone and is located in the southeastern part of the Spratly Islands. The Louisa Reef also lies within China's 'nine-dash line', a sizeable claim to the South China Sea which also encompasses all of the Spratly Islands. An offshore settlement with Malaysia in 2010 allows Brunei to explore untapped and formerly disputed deepwater areas in the Baram Delta (namely Commercial Areas 1 and 2) and issue more production sharing contracts to help prop up oil and natural gas production and offset declines from older existing fields. Petronas of Malaysia and Brunei National Petroleum Company (Petroleum Brunei) signed a 40-year agreement in 2010 to jointly explore these two blocks. In 2013, PetroleumBrunei and Petronas of Malaysia signed several cooperation agreements for joint development of oil and natural gas fields in both countries' deepwater offshore areas. The national oil companies of both countries are actively exploring and anticipate hydrocarbon production in the joint commercial areas to begin by 2021.
  • Despite the recent decline in production, Brunei is the largest net exporter of petroleum liquids in the Asia-Pacific region given the country's minimal domestic consumption. In 2015, Brunei's net exports of total liquids were about 110,000 bbl/d, primarily crude oil sent to key Asian oil consumers, including Indonesia, Japan, South Korea, China, and Malaysia. Brunei plans to expand its refinery capacity, as Chinese company Zhejiang Hengyi Group has plans to construct a new refinery with a capacity of 148,000 bbl/d. However, the project has encountered several delays since 2011. If built, this new facility could shift the dynamics of the country's oil exports in favor of consuming more crude oil and exporting more petroleum products.

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