Brunei will increase its oil and gas production to a level approximately equivalent to 350,000 barrels per day in the long term, a government minister said Tuesday.

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Edited by| Hugh Gey
economic section - CJ journalist
8 March 2023- Brunei

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Haji Awang Halbi, minister of defense and head of the National Security Committee, declared an official statement at the 19th Legislative Council meeting earlier in the day.

The minister proposed an allocated national budget of more than 573 million Brunei dollars (425 million U.S. dollars) for the Prime Minister's Office (PMO) and its departments for the fiscal year 2023-2024.

Halbi said that the energy sector continues to play an important role in improving the country's economy, contributing approximately 60 percent to Brunei's gross domestic product and approximately 22,000 jobs.

"The PMO is working diligently to manage the production of oil and gas resources so that it is sustainable to help develop the national economy."

Brunei plans to raise oil and gas production to about 350,000 barrels per day in the long term, and this requires the development of resources in the deep ocean and an increase in exploration activities, he said. (1 Brunei dollar equals about 0.74 U.S. dollars)

( Xinhua)