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The energy sector is a core driver of Brunei Darussalam’s economy. It accounts for more than 60 percent of Brunei Darussalam’s GDP, employs 24,000 people and supplies our nation with the fuel and power needed to ensure that our economy functions smoothly. It is integral to the achievement of the objectives set out in the National Vision 2035 - known as Wawasan Brunei 2035, which aims to boost the skills of Bruneians, improve our quality of life and strengthen our economy.
Across the world, the pressure to ensure energy security is greater than ever before. Producing oil and gas is increasingly complex and costly, emerging markets are rising to the fore on downstream production and there is a growing push towards sustainable energy production. These issues are extremely relevant to Brunei Darussalam, as our nation embarks on a journey to ensure that energy continues to contribute to sustainable development.
To secure the future of Brunei Darussalam’s energy sector, the EDPMO has set 3 Strategic Goals to propel the energy sector forward and realise the National Vision:
• Strategic Goal 1 – Strengthen and Grow Oil and Gas Upstream and Downstream Activities
• Strategic Goal 2 – Ensure Safe, Secure, Reliable and Efficient Supply and Use of Energy
• Strategic Goal 3 – Maximise Economic Spin-off from Energy Industry - Boost Local Content and Secure High Participation of Local Workforce
In each of these areas, key performance indicators (KPIs) and supporting initiatives have been set by the EDPMO to ensure that the objectives of the energy sector and the broader Wawasan Brunei 2035 vision are achieved. Big, bold targets have been set for these KPIs, which seek to maximise the full potential of the industry.
Four key enablers will form the core support mechanisms to ensure that commitments are met and that outcomes are achieved on a timely basis throughout the target horizon. The enablers place an imperative on ensuring that Brunei Darussalam’s economy is accessible and conducive for investments and that our people are equipped with the right sets of skills that will make them highly employable in the energy sector. These will be supported by relevant government regulations and policies and ensure that a robust delivery mechanism is in place to accelerate outcomes.
Source : https://www.usasean.org/sites/default/files/uploads/Energy%20White%20Paper%202014.pdf