Date release : 2014 THE REPORT BRUNEI DARUSSALAM 2014 BUILDING LOCAL CAPACITY
OBG talks to Supna Karwanamurthi, Managing Director, FLUX O. S.
taken from THE OIL & GAS YEAR (TOGY) BRUNEI 2015
What impacts has the recent local business development (LBD) framework had on domestics companies in the energy sector?
SUPNA: The recent implementation of the LBD framework by the Energy Department at the Prime Minister's Office (EDPMO) has been a major success in that it has assisted in eliminating monopolies
within the oil and gas industry, thus creating a fair and even playing field for all companies in the sector. This has tremendously assisted genuine local entrepreneurs in stepping up to the call
from EDPMO and creating a healthier and more competitive economy for Brunei Darussalam as a whole.
Another positive outcome from the framework is that both Bumiputeras and local Bruneians wil have a fair chance to bid for tenders and be awarded contracts in the oil and gas industry. With the LBD
framework now in place, companies have to think about what they can do to contribute to the development of the nation, besides making a profit. In this regard, the framework will serve to strengthen
sector and ensure its sustainability in the future.
What strategies are oil and gas companies pursuing in order to work towards the production targets set out by the Energy White Paper?
SUPNA : We, as oil and gas support services companies, are ready to assist our clients in maintaining and increasing production levels, and two major assets are crucial to achieving this goal - human
capital and innovative technology.
A long-term contract must be in place for local companies to have the incentive to invest in both of these assets and to have the ability to grow steadily, while also assisting the EPDMO in achieving the targetsof the Energy White Paper.
As such, the EDPMO has been actively involved in the tendering processes for oil and gas operators, to ensure that long-term contracts are awarded to local entrepreneurs that can help achieve the national vision of His Majesty Sultan Haji Hassanal Bolkiah.