His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam, in a number of Titah, has called to hasten economic growth and realise Wawasan Brunei 2035. This includes through the materialisation of foreign direct investment (FDI) projects within the nation. The local manufacture of a range of fuel products by Hengyi, one of the largest FDI companies in Brunei, contributes to the development and diversification of the nation’s downstream energy sector, while supporting national self-sufficiency.
Held at Pulau Muara Besar’s Gantry Yard, Western Tank Farm, the event was jointly officiated by Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II; Yang Berhormat Dato Seri Setia Ir. Awang Haji Suhaimi bin Haji Gafar, Minister of Development; Yang Berhormat Dato Seri Setia Dr. Awang Haji Mat Suny bin Haji Md Hussein, Minister of Energy; Her Excellency Yu Hong, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Brunei Darussalam; Mr. Chen Lian Cai, Chief Executive Officer of Hengyi Industries; and Muhammad Norshafiee bin Dato Paduka Haji Abdul Jalil, Managing Director
This is part of Hengyi’s commercial agreement with BSM signed on 18th September 2019 to supply the refined fuel products to BSM for domestic market distribution. It signifies a new milestone for the country’s downstream industry with the extension of the domestic oil and gas value chain.
The Pulau Muara Besar Refinery and Petrochemical Plant is a world-class oil refinery and aromatics complex with the capacity to refine 8 million tonnes of crude oil per year. The petrochemical plant is capable of producing 13 different types of petroleum products.
Hengyi will be supplying a total of 427,509 barrels of refined fuel products to BSM, consisting of 190,778 barrels of gasoline, 159,924 barrels of diesel, and 76,807 barrels of jet fuel to meet monthly domestic demand of petroleum products. Hengyi will be supplying Euro V fuels in time to domestic demand providing the highest quality and a cleaner fuel. Euro V fuels are both environmentally friendly and provides better performance to motor vehicles. The Pulau Muara Besar Refinery and Petrochemical Plant operations and the domestic supply of petroleum products are closely overseen by the Ministry of Energy to ensure that quality products continue to be available to the public.
The Pulau Muara Besar Refinery and Petrochemical Plant also opens up employment and business opportunities to local workers and businesses. Since the start of its operations, Hengyi has directly employed 447 locals and this number is expected to increase further in alignment with the Ministry of Energy’s Bruneianisation Directive. Several more indirect employment opportunities have been generated through various contractors and local service providers to support the operations.