Brunei’s economy has been dominated by the oil and gas upstream and downstream industries for the past 90 years. From the first well discovery in Ayer Berkunchi in 1899 to the establishment of Petroleum Authority of Brunei Darussalam in 2019 – Brunei Darussalam’s oil and gas industry has long fueled the growth and development of the country.

The history of the oil industry in Brunei began in 1899 when the first exploration well was drilled near the capital, Brunei Town. It was then followed by the discovery of the Seria field in the Belait District in 1929 and a series of commercial discoveries that culminated in Brunei’s first oil export in 1932. Brunei Shell Petroleum (BSP) is the largest oil producer in Brunei and contributes around 90 per cent to Brunei’s oil and gas revenues.

Over the last decade, Brunei Darussalam has made substantial investments in the expansion of its downstream industries to diversify its product portfolio in the oil and gas value-chain. This trend is set to continue in the future, paving the way for growing demand for new skills and technology.

The energy sector is the main contributor to the Country’s growth with 64.7% share of the country’s GDP in 2022.

Brunei Darussalam continues to maximise the potential of its mature oil and gas fields, and undertake further exploration and development activities, as well as ensuring locals are highly educated and technically skilled to meet the industry needs. To sustain the country’s long term production, collaborative efforts between the Government and oil and gas operators are key towards materializing potential activities.

As the energy sector underwent transformation and growth, the need for more robust regulation to match the changing landscape and ensuring the national priorities are put first, the Government made a move to establish independent authorities. The establishment of Petroleum Authority of Brunei Darussalam marks another important milestone in the development of the oil and gas industry in an effort to further realise Wawasan Brunei 2035.

Petroleum Authority of Brunei Darussalam is the regulatory body for the oil and gas industry in Brunei. Its long-term vision for the industry revolves around establishing a progressive and resilient industry that is perceptive to the ever-changing market, capable of enhancing the value created to secure the future of the country.