Oman, Brunei to cooperate in oil, gas and energy sectors 

(MENAFN - Times of Oman) Ahmed bin Abdulnabi Macki, minister of national economy and deputy chairman of the Financial Affairs and Energy Resources Council, met Pehin Datu Haji Mohammed, energy minister in Brunei Darussalam yesterday.

The meeting covered a number of issues related to bilateral, economic and investment cooperation in the field of oil and gas and energy sectors.

Macki highlighted the efforts undertaken by the Sultanate's government and its investment to raise the Sultanate's oil and gas production.

He pointed out that while the Sultanate currently produces 784,000 barrels of oil per day, it strives to increase its production and raise it to 804,000 barrels per day by the end of 2009, noting that there are a number of international oil companies that are undertaking exploration for oil in the different regions of the Sultanate.

Oil production

He also pointed out the importance of establishing joint ventures in oil and gas sectors, as Oman Oil Company (OOC) now has the expertise and the investment relations that enable it to venture into different energy industries, as well as energy-based industries.

On his part, Pehin Dato Haji Mohammed highlighted the efforts undertaken by his country to enhance its oil and gas resources. He pointed out that his country produces about 170,000 barrels per day.

He hoped that this visit would open new horizons for cooperation between Omani and Brunei Darussalam companies. Macki also met Pehin Datu Haji Abdul Rahman bin Haji Ibrahim, second finance minister in Brunei Darussalam. During the meeting, the two sides discussed a number of issues related to bilateral cooperation including how to distribute financial resources and use them in implementing the developmental programmes, plans and studies. The two sides also reviewed the economic and financial turmoil witnessed by the world due to the global financial crisis.

Macki highlighted the development plans and programmes adopted by the Sultanate's government in implementing its projects during its Five-Year Plans.

He stressed the importance of taking into consideration the economic feasibility of such plans and programmes and their ability to achieve the secured economic and development yields.

On his part, the second fiance minister expressed his admiration of the development plans and programmes adopted by the Sultanate's government in implementing its development projects. He expressed the desire of his country to benefit from the Sultanate's experience in this field by enhancing cooperation between the finance ministries in both the countries, exchanging visits among officials to review and benefit from the programmes and finance plans adopted by the Sultanate's government to implement developmental plans and programmes.

Dr Sheikh Abdulmalik bin Abdullah Al Hinai, undersecretary for economic affairs at the National Economy Ministry; Eng. Muneer bin Baqir Al Mosawi, secretary-general of the Supreme Committee for Town Planning; Khalil bin Abdullah Al Khonji, chairman of Oman Chamber of Commerce and Industry (OCCI); His Highness Sayyid Fakhri bin Mohammed Al Said, Sultanate's ambassador to Brunei Darussalam; and members of the accompanying delegation attended the meeting

Meanwhile, Prince Al Muhtadee Billah, crown prince of Brunei Darussalam, received Ahmed bin Abdulnabi Macki at the Nurul Iman Palace in Bandar Seri Begawan yesterday.

During the meeting, the heir apparent expressed his satisfaction with the progress being made in bilateral relations between the two
countries and similarity of views with regard to various political, economical and developmental issues.

He hoped that the economic relations between the Sultanate and his country would see establishment of joint economic ventures between the government and private sectors in the two countries to achieve expectations and aspirations of the people of the two countries. On his turn, Macki reviewed the policies and developmental programmes being implemented by the government of His Majesty Sultan Qaboos bin Said, which have laid down as part of its priorities the development of human resources since they are the engine of economic development in the Sultanate.

Macki also explained the economic projects being implemented by the Sultanate's government in civil aviation, ports, roads, infrastructure and tourism sectors, which would directly contribute to boosting the national economy.

He also highlighted the importance of the role that may be played by the Omani-Brunei Investment Company in finding joint investment opportunities between the two friendly countries.

The meeting was attended by Dr Sheikh Abdulmalik bin Abdullah Al Hinai, Khalil bin Abdullah Al Khonji, His Highness Sayyid Fakhri bin Mohammed Al Said and a number of senior officials from the Brunei Darussalam side.