BBYB 2019

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OIL & GAS

Throughout the decades, both the business

climate, and the oil and gas industry have

changed considerably. BSP has continued to be

a global business leader, and world class oil and

gas company, by developing and utilising some

of the world’s most advanced technologies.

For example, the high-resolution 3D seismic

survey at Rasau completed in 2015 is one

of the most advanced and largest onshore

surveys BSP has undertaken in more than 20

years. The Rasau 3D Seismic Survey Project

was carried out over an area spanning 244km

in the Belait District, including the town of

Kuala Belait and adjacent onshore and offshore

areas. This modern seismic data enabled BSP

to gain a better picture of the underground in

its continuous quest to locate and produce more

oil and gas.

Thanks to Rasau’s seismic data, BSP discovered

the Layang-Layang Well in 2017. This well, in

the Lumut area, marks BSP’s first significant

discovery onshore in 37 years. Layang-Layang is

the first of its kind confirming the existence of

a new geological concept called a “shale diapir

trap”. A shale diapir is a large cavity containing

shale – all under immense pressure. Such a

geological structure had never previously been

considered as being able to trap oil and gas. The

Layang-Layang well belongs to the Seria Field.

Even though Seria oilfield is 90 years old it is a

“gift that keeps on giving”. Seria was the birth

of the oil and gas industry in Brunei and will

continue fuelling Brunei’s future for generations

to come.

More recently, elsewhere in the Belait District,

BSP produced its first gas at the Darat Gas

Project. The project was completed three months

ahead of time at the end of 2018. It is capable

of producing up to 2 million cubic metres of gas

daily.

BSP is still the backbone of Brunei’s economy

today. It contributes around 90 per cent of

Brunei’s oil and gas revenues, which in turn

accounts for over half of the country’s GDP and

90 per cent of Brunei’s total export earnings.

People, Country and BSP

BSP has always made People and Country

top priorities over the last 90 years. The main

objectives – still to this day – have been to

provide jobs for Brunei’s workforce; nurture,

develop and support Bruneian talent; and to

play an active role in developing the capacity

and capability of Bruneian businesses for the

sustainable development of Brunei. This is

aligned with His Majesty the Sultan of Brunei’s

Brunei Vision 2035.

BSP established LiveWIRE Brunei in 2001, a

programme to groom and mentor current and

future entrepreneurs. Since its launch, it has

helped more than 9,000 Bruneians through

its various programmes. In 2018, five local

entrepreneurs were granted BND155,000 under

BSP’s brand new LiveWIRE initiative: LiveWIRE

Business Awards Start-Up Funding Scheme.

That included a home-based salted duck egg

manufacturer, Nur Haziyah Abdul Rahman, who

thanks to her Duck Farm managed to take her

remote Temburong family out of poverty. Her

business, Hazeeyah Agro Farm also received

the “LiveWIRE Brunei Most Outstanding Award”

during the LiveWIRE Business Awards 2017-

2018. The Duck Farm in Temburong now houses

800 ducks producing 400 eggs daily.

I-Usahawan is a youth entrepreneurship deve-

lopment initiative by the Ministry of Energy,

Manpower and Industry (MEMI). I-Usahawan

targets aspiring and existing indigenous business

owners between 21 and 40 years, who have yet

to earn a contract with the government-linked

companies or BSJV Companies – which include

BSP, Brunei LNG and Brunei Shell Marketing.

The business areas targeted by the programme

include everything from grass-cutting services,

landscape maintenance and horticulture to

canteens or cafés. It also covers domestic waste

management, recycling waste management,

videography and photography services, and event

management. Under this scheme, participants

follow entrepreneurship training and compete

for tenders. Successful candidates are awarded

a three-year contract with the possibility of an

extension.

In line with Brunei Darussalam’s vision to develop

an educated, highly-skilled and accomplished

workforce, BSP places great importance on the

value of good education. Apart from annual