Brunei supports the implementation of strate- gies related to energy security, diversification of supply, energy efficiency and conservation to drive the economy into a sustainable future.
The government is working to achieve the country’s target while exploring plans to diversify the energy mix through a concerted effort and promotion of alternative and renewable energy sources for power generation.
To ensure the accomplishment of Brunei Vision 2035 goals, eight strategies have been identified, in ensuring that all aspects of development are being implemented sys- tematically and effectively, covering among others, education, economic development, local business development and environment strategy.
As stated on the EIDPMO website, growth in the energy sector is being addressed by out-lining three strategic goals: to strengthen and grow oil and gas upstream and downstream activities; to ensure safe, secure, reliable and efficient supply and use of energy; and to maximise economic spin-offs from energy industry – boost local content and secure high participation of local workforce.
The EIDPMO has developed 10 key perfor- mance indicators (KPIs) to address needs across the different segments and parts of the value chain in the energy sector. An initial set of supporting initiatives have also been identified to ensure that the energy sector delivers its targets by 2035, thus ensuring a sufficient buffer period to take into account any final additional or mitigating action needed to attain the set targets.
Four key enablers have been identified to ensure that Brunei grows in a manner that is competitive and sustainable. These are: 1. Implementing supportive policy and regulatory frameworks 2. Growing Bruneian human capital 3. Attracting investment to fuel growth 4. Ensuring delivery on commitments
The attainment of these goals for the energy sector will support and ultimately achieve the goals under the Brunei Vision 2035.
During the 13th LegCo Session in March 2017, it was announced that the country’s oil production is esti- mated to be at 134,000 barrels per day, compared to 139,000 barrels in 2016.
The decline is partly due to the natural dwindling of resources, suspension and deferment of production and the country’s commitment to the Organisation of the Petroleum Exporting Countries (OPEC).
YB Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, the former Minister of Energy and Industry at the Prime Minister’s Office said in a preamble speech at the session that in 2016, the oil and gas sector managed to increase the total resources and reserves by 94 million barrel of oil equivalent (BOE), expanding the lifespan of oil and gas reserves to 53 years.
“The main role of the energy sector is to ensure that the hydrocarbon treasures of the nation are devel- oped sustainably,” he said. Regarding the renewable energy sources, he revealed that a large-scale solar project will be launched in the Temburong District to replace power generators that operate on diesel at the Belingus Power Station in Temburong. The project will be completed in the first quarter of 2018 and will see an energy saving of 23 per cent in the first phase.
Touching on electricity, he said several initiatives have been undertaken to improve its reliability, reducing electricity interruptions by 67 per cent since 2010. Since the introduction of the housing tariff reforms in 2011, energy consumption has decreased by 12 per cent. Electricity saving prac- tices also continued where government buildings have achieved savings of BND16 million a year.
Electricity dues have also decreased by 13 per cent since November 2015.
He also added that the Department of Electrical Services (DES) is planning to privatise the genera- tion and transmission sector through the transfer of assets to Darussalam Assets.
A signed Declaration of Cooperation was made on December 10, 2016 on voluntary oil production adjustment decision by non-OPEC participating countries, which included Brunei.
In May 2017, Brunei reaffirmed its commitment to a Declaration of Cooperation for voluntary oil produc- tion adjustment by signing a nine-month extension to the agreement, together with the Organization of the Petroleum Exporting Countries (OPEC) and non- OPEC participating countries.
The meeting gathered ministers and leaders from 14 OPEC members and nine non-OPEC participating countries, including Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, and Sudan.
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