From The Report: Brunei Darussalam 2016
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A powerhouse regional oil and gas producer, Brunei Darussalam has benefited significantly from a long history of hydrocarbons production in partnership with international oil companies. The energy sector continues to dominate the economy today, accounting for the majority of government revenues, GDP and exports. However, the sector is facing a host of concurrent challenges – production at Brunei Darussalam’s mature fields has been in decline for a decade, while oil and gas prices have fallen rapidly since mid-2014 – putting a significant strain on expenditure, investment and economic growth. Although the near-term forecast for energy sector growth is subdued, there have been a number of positive developments in recent years that will support long-term expansion.