| Faza Suraj |
INDONESIAN President Joko Widodo and his delegation yesterday made an official visit to Brunei LNG Sdn Bhd as a part of the two-day state visit.
Minister of Energy at the Prime Minister’s Office (PMO) Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awg Hj Mohammad Yasmin bin Hj Umar was on hand to welcome the visiting delegation at the Sungai Liang Industrial Park (SPARK). Also present were Minister of Education Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr) Hj Awg Abu Bakar bin Hj Apong – as the minister in attendance, Permanent Secretary (Downstream & Power) at the Prime Minister’s Office Dato Paduka Hj Jamain bin Hj Julaihi and Indonesian Coordinating Minister for Economics Sofyan Djalil.
In his briefing, the Minister of Energy at the PMO discussed the oil and gas industry – particularly Brunei LNG as well as the aspirations of the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam in developing the downstream industry of the Sultanate.
Developing and strengthening both upstream and downstream activities of the oil and gas industry is one of the goals in line with the Brunei Vision 2035, which is to achieve the production of 650,000 barrels of oil equivalent per day by 2035.
“Alhamdulillah, on the upstream side, Brunei recently acquired a few exploration discoveries which involve Commercial Area 2. Taking into account the already available current reserves which continue to retain a reserve replacement ratio of more than one, the hydrocarbon in the Sultanate is expected to last another 30 to 50 years,” he said.
The hydrocarbon availability allows the government to initiate plans by making use of it to generate a more stable economy, not only for Brunei LNG but also for the development of the downstream oil and gas industry.
A question-and-answer session followed, during which a delegation member had queried as to the reason behind the introduction of Methanol and other commodity production in Brunei.
“It’s all about creation of economic diversity in the country. We cannot depend entirely on oil and gas with the recent oil prices down 60 per cent. If we venture further downstream, it means the income does not depend only on oil prices, but also the price of other commodities such as ammonia, which would add a positive effect in terms of market volatility.”
The day also saw the entourage visiting Brunei LNG for a plant tour led by Brunei LNG Chief Executive Officer Mohammad bin Hj Awg Damit.
The visit concluded with the president signing the Visitors’ Book.