The economy of Brunei, a small and wealthy country, is a mixture of foreign and domestic entrepreneurship, government regulation and welfare measures, and village traditions. It is almost entirely supported by exports of crude oil and natural gas, with revenues from the petroleum sector accounting for over half of GDP. Per capita GDP is high, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and subsidizes food and housing. The government has shown progress in its basic policy of diversifying the economy away from oil and gas. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion although it has taken steps to become a more prominent player by serving as chairman for the 2000 APEC forum. Growth in 1999 was estimated at 2.5% due to higher oil prices in the second half.
Petroliam Nasional Berhad, commonly known as PETRONAS, is a Malaysian multinational oil and gas company headquartered in Kuala Lumpur. Established in 1974, it is a legal entity incorporated under the Malaysian Companies Act 1965 and reports to the company's Board of Directors. The corporation, with a presence in over 100 countries, is vested with all oil and gas resources in Malaysia and is entrusted with the responsibility of developing and adding value to these resources. In the annual Fortune Global 500 list for 2022, Petronas was ranked at 216th. It also ranked 48th globally in the 2020 Bentley Infrastructure 500.
OMV is an Austrian multinational integrated oil, gas and petrochemical company which is headquartered in Vienna, Austria. The company is listed on the Vienna Stock Exchange. In the 2021 Forbes Global 2000, OMV Group was ranked as the 413th -largest public company in the world.
Malaysia Marine and Heavy Engineering Holdings Berhad is a Malaysian owned shipbuilding and heavy engineering industries company. It was formerly known as Malaysia Shipyard and Engineering Sdn Bhd. MHB has been long involved in oil and gas engineering and construction works.
Premier Oil plc was an independent UK oil company with gas and oil interests in the United Kingdom, Asia, Africa and Mexico. It was devoted entirely to the 'upstream' sector of the industry — the exploitation of oil and gas — as opposed to the 'downstream' refining and retail sector. It was listed on the London Stock Exchange until it was acquired by Chrysaor Holdings and then merged into Harbour Energy in March 2021.
Shell Australia is the Australian subsidiary of Shell. Shell has operated in Australia since 1901, initially delivering bulk fuel into Australia, then establishing storage and distribution terminals, oil refineries, and a network of service stations. It extended its Australian activities to oil exploration, petrochemicals and coal mining, and became a leading partner in Australia's largest resource development project, the North West Shelf Venture.
Brunei LNG (BLNG), located in Lumut, Belait District, is the largest oil and gas producer in Brunei and has been a key player in the country's energy sector since its establishment in 1969. As the fourth largest oil producer in Southeast Asia and the ninth largest liquefied natural gas (LNG) producer globally, BLNG has supplied LNG to Japan since its first shipment in 1972. The joint venture between Brunei Shell Petroleum (BSP) and Mitsubishi Corporation has also expanded into ownership of LNG carriers and deepwater upstream oil and gas exploration. BLNG has emerged as the world's longest-running commercial LNG plant.
Malaysia LNG (MLNG) is a liquefied natural gas manufacturer in Malaysia. It operates in the 9 liquefaction modules PETRONAS LNG Complex, Bintulu, Sarawak. In 2007, it was the largest LNG manufacturing complex. Currently, top 5 largest LNG plant in the world as of 2022.
The Brunei–Malaysia border divides the territories of Brunei and Malaysia on the island of Borneo. It consists of a 528.45 km (328.36 mi) land border and substantial lengths of maritime borders stretching from the coastline of the two countries to the edge of the continental shelf in the South China Sea.
The Malaysia–Thailand Joint Development Area is a 7,250 km square area in the Gulf of Thailand which was created as an interim measure to exploit the natural resources in the seabed or continental shelf claimed by the two countries and to share the proceeds equally. The arrangement does not extinguish the legal right to claims by both countries over the area. This is one of the first applications of the joint development a memorandum of understanding on 21 February 1979 in Chiang Mai, Thailand for the establishment of the joint development area and authority to administer the area. This was followed by an agreement to constitute the joint development authority on 30 May 1990 in Kuala Lumpur, Malaysia.
Petroleum licensing or exploration license is the act of giving licenses to a company or a joint venture allowing them to search for commercially feasible deposits for the extraction of petroleum.
Sapura Energy Berhad is a Malaysian integrated oil and gas services company based in Seri Kembangan, Selangor. Sapura Energy trades in over 20 countries, such as China, Australia, United States of America, and those in Western Africa and the Middle East, employing approximately 13,000 people. Sapura Energy's operations cover exploration, development, production, rejuvenation, decommissioning, and abandonment. The company was formed via a merger between SapuraCrest and Kencana in May 2012 and trades on the Main Market of Bursa Malaysia Securities Berhad. The company was renamed as Sapura Energy Berhad on 24 March 2017.
Petroleum Sarawak Berhad (PETROS) is a state-owned oil and gas exploration firm established and owned by the State Government of Sarawak.
Destini Berhad is a Malaysian company that is involved in heavy industry, defence and oil and gas. This company was formed in 1991 under the name of Satang Jaya Sdn Bhd. At the beginning, this company involved in the business as a supplier of aviation tools and spare parts from Original Equipment Manufacturers (OEM) to Malaysian government especially for Malaysian Armed Forces. The company first time entry into Bursa Malaysia in December 2005 and in September 2011, Satang Jaya Sdn Bhd changed its name to Destini Berhad as a part of company expansions. Destiny Berhad consist of six divisions which is M Rails Technics, System Enhancement Resources & Technologies, Destini Prima, Destini Avia Technique, Destini Armada and Destini Oil Services.
The Muara Port, also known as Muara Harbour, is a seaport operated by the Muara Port Company (MPC) Sdn Bhd, under the supervision of the Maritime and Port Authority of Brunei Darussalam. The port also contributed to the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA).
Brunei Methanol Company (BMC) is a national petrochemical facility situated at the Sungai Liang Industrial Park (SPARK) in Sungai Liang, Brunei jointly owned by Japan's Mitsubishi Gas Chemical Company (50%), ITOCHU Corporation (25%) and Mirkhas (25%), a company incorporated under the purview of the Strategic Development Capital Fund, a trust sub-fund of the Government of Brunei.
Egret oil field, also known as Egret Field, is a complex oil and gas field in the South China Sea and 45 km north-west of Seria, Belait District, Brunei. It is located at the depth of 60 m, and operated by Brunei Shell Petroleum (BSP).
Mat Suny bin Mohammad Hussein is a Bruneian politician who formerly held the position of Deputy Minister of Development from 2005 to 2010, and Minister of Energy from 2018 to 2022. Notably, he is also the deputy chairman of Universiti Teknologi Brunei (UTB).
Brunei Shell Petroleum (BSP) is a joint venture between the Royal Dutch/Shell Group and government of Brunei, primarily responsible for the exploration and production of oil and liquefied natural gas (LNG). Originally known as the British Malayan Petroleum Company (BMPC), it was established in 1922. BSP is crucial to Brunei's economy and political landscape, particularly regarding oil development and resource management. Its establishment and growth were closely tied to the Sultan of Brunei's decisions, as BSP provided essential insights into oil discoveries that influenced the Sultan's stance on joining Malaysia, thereby shaping the country's economic and political independence. Due to a lack of personnel, Brunei does not want to create a state oil corporation; nevertheless, the government does intend to raise its stake in BSP and solidify its influence over the energy industry.
QAF Brunei or QAF Brunei Group, is a private limited company under the Baiduri Group, owned by Prince Mohamed Bolkiah, serves as the investment company of the Bruneian royal family. Formerly known as QAF Holdings, the company has built a diverse portfolio spanning multiple sectors in Brunei. Initially founded as a car dealership focusing on the trade and leasing of luxury vehicles, QAF has since broadened its operations to include industrial machinery, fast food, media, supermarkets, and livestock production. With its expansion into China and Myanmar, QAF has become the third-largest employer in Brunei, behind the governmental sector and Brunei Shell Petroleum (BSP).
B$5.462 billion (2023) [1] 
