Brunei Oil and Gas Report - Business Monitor International - Industry Reports

Brunei Oil and Gas Report

Brunei Oil and Gas Report - Business Monitor International - Industry Reports
Brunei Oil and Gas Report
Published Aug 20, 2016
56 pages — Published Aug 20, 2016
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Abstract:

We forecast Brunei s oil and gas reserves to continue declining at a moderate pace across the coming decade. That said, we maintain our view that ambitious government plans to revive Brunei s upstream sector provide an upside risk to our forecast, especially over the longer term. ...We forecast Brunei s oil and gas reserves to continue declining at a moderate pace across the coming decade. That said, we maintain our view that ambitious government plans to revive Brunei s upstream sector provide an upside risk to our forecast, especially over the longer term. We expect Brunei s ---- oil production to increase by -.- y-o-y to ---,---b/d due to the ongoing rejuvenation of the country s outdated offshore platforms. ...We forecast refined products production to reach around ---,---b/d in ---- (up from -,---b/d in ----) and continue rising to ---,---b/d by ----. On account of rising domestic demand in gas-powered electricity production and developing petrochemicals industry, we forecast Brunei s gas consumption to average -.- annual growth between ---- and ----, reaching -.-bcm by ----.

...One major discovery that Brunei has witnessed over recent years was offshore block CA-, where it is believed that deposits of between -,---bcm and --,---bcm of natural gas may be located. The discovery at CA- was first made in ---- and a consortium of firms including Mitsubishi Corporation, Murphy Oil, Petronas, Royal Dutch Shell and ConocoPhillips successfully drilled three wells there in ----. ...On August -- ----, Malaysia and Brunei reached an agreement to conduct joint exploration for oil and gas (O&G) in the offshore CA- and CA- blocks. The agreement paves the way for greater cooperation between PetroleumBrunei and Petronas, the respective national oil companies of Brunei and Malaysia, to produce hydrocarbons in the disputed region of the South China Sea, which is where the blocks lie. Successful exploration and production in the CA- and CA- blocks would be of particular benefit to Brunei. ...Successful exploration and production in the CA- and CA- blocks would be of particular benefit to Brunei. The country s hydrocarbon reserves are depleting, and its economy remains heavily dependent on oil-export revenue, which is also declining (oil revenues made up --.- of Brunei s total government

...BMI View: Despite considerable potential, Brunei holds a limited hydrocarbons reserves base. The country s government has outlined ambitious plans for expanding the oil and gas industry, but the low oil price environment is limiting investment into prospective exploration sites, most of which are located in remote offshore areas. ...

  
Source:
Document ID
2058-072X
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Brunei Oil and Gas Report" Aug 20, 2016. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Brunei-Oil-and-Gas-Report-2026-1754>
  
APA:
Business Monitor International - Industry Reports. (2016). Brunei Oil and Gas Report Aug 20, 2016. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Brunei-Oil-and-Gas-Report-2026-1754>
  
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