'The Oil & Gas Year' will showcase Brunei's energy industry to global audience

THE Oil & Gas Year Brunei 2012, which was officially launched yesterday, will highlight the country's considerable potential as an investment destination as it reaches a wide number of readers across the hydrocarbon industry, and the globe.

Minister of Energy at the Prime Minister's Office (EDPMO), Yang Berhormat Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Hj Mohd Yasmin Hj Umar, was guest of honour at the event held in the Royal Berkshire Hall, Royal Brunei Polo and Riding Club, said that the highlight in the 2012 publication, is the way Brunei does business in the oil and gas industry.

"It's very transparent, and with this book, we will get tremendous exposure that could attract investment into the country," YB Pehin Dato Hj Mohd Yasmin told reporters following the event.

With energy making up 60 per cent of the country's Gross Domestic Product (GDP) and 90 per cent of the country's exports, never has there been a more important time to realise this publication, the minister said.

"Among the chapters of The Oil & Gas Year Brunei 2012, some significant issues are highlighted and discussed by the important names in Brunei's oil and gas industry. With comments from more than 80 figures in our important industry, the book collates the insights of leading politicians and the movers and shakers from the world of business," he said.

The minister praised Wildcat International's publication for its analytical eye over all issues on hydrocarbons in Brunei, ranging from considerable efforts being made in exploration of new oil, to the massive potential for liquefied natural gas (LNG) in Brunei.

"Focuses are placed on the role on banking and finance services in investment, the drive to maximise downstream activities, the importance of engineering and infrastructure activities, and the politics and policies that drive the industry," he said.

Through The Oil & Gas Year (TOGY) Brunei 2012, EDPMO is aiming to display to potential investors and partners the various activities currently underway, and promote those in the pipeline for development in the near future.

"TOGY Brunei 2012 gives a detailed picture of what our domestic oil and gas industry looks like and the roles played by government officials, captains of the industry, and the financial providers. As much as the stories written in the publication are about the industry, they are also recognising the contribution of the men and women who work tirelessly to bring Brunei to where it is at the moment," he said.

YB Pehin Dato Hj Mohd Yasmin added: "Through this publication, we want to tell the world our success stories. Through the interviews, articles, comments and analysis, we can highlight the exciting opportunities available in Brunei for foreign investors. The book tells the story of Brunei, an investment destination offering a safe and stable social, economic and political environment."

Chief Executive Officer of The Oil & Gas Year, Guillaume Doane, in his speech said that via this publication, they hoped to achieve a complete introduction to the country's oil and gas sector, its industry, its history, and advance conversation between industry leaders on how to respond to challenges being faced.

"Our research team spent five months in the country gathering information, research, and interviewing more than 50 oil and gas and finance executives and that is transmitted to all of us via this book. The story of a country steep in tradition, stability and religion," Doame said.

The CEO said that because of Brunei's strong energy industry, which dominates the economy, has led to Brunei being debt free, kept the Sultanate standing on remarkably solid fiscal footing, and is amongst world leaders in human development index and GDP-per-capita.

"As in many resource wealthy countries, the spectre of dwindling oil and gas resources and shrinking reserves are urgent issues of national priority. Excessive dependence on oil and gas to fuel the economy is a major worry, while the protection of natural rainforests demands priority," he said.

With a publication that covers the industry in full, from upstream to downstream and all activities in between, Doame is hoping it would spark further conversations between industry players.

"Never has Brunei's energy sector been covered in such detail, and we are looking forward to the Energy White Paper scheduled to be released in September and among those, concurrent on-going initiatives to maximise local content and minimise unemployment efforts, to significant improvement in energy efficiency and conservation, all in line with principals of the national vision, Brunei Wawasan 2035," he said.

TOGY Brunei 2012, is the publishers first foray into Southeast Asia and Doame said that it was no accident.

"Brunei is a pioneer in many fronts, and is in a position that allows it to thrive even as economies of the world are tested by adversity. The Sultanate is a symbol of strength and stability in the region with an 80-year legacy in this industry," he said.

Doame added: "With Brunei as a member of ASEAN, APEC and one of the founding members of the Trans-Pacific Partnership, we are eager to further on-going dialogue with Brunei and its trade partners, and make that dialogue a basis of continuous stability and prosperity."

TOGY is the flagship title of publishers of business intelligence resources, Wildcat International, and has a worldwide distribution of more than 44,000 readers in 101 countries. The Brunei Times