Economy
The Belait District, and Seria town in particular, is the heart of the oil and gas industry in Brunei. It has a large expatriate community, including many Dutch people. This is because Royal Dutch Shell has a major presence in the region.
There are two onshore oil and gas fields in the district - the large Seria Oil Field discovered in 1929 which is still producing hydrocarbons even today, and the smaller Rasau Field close to the town of Kuala Belait. The Tali Field, which is an extension of the Seria Field is found in the coastal waters off Seria. Further offshore lies the South-West Ampa, Fairley, Fairley Baram and Egret fields.
The petroleum produced are processed onshore in and around Seria and the majority of it is exported. Some of the oil is refined at the refinery in Seria for local consumption. Natural Gas from the fields are sent to the Brunei Liquefied Natural Gas Plant (BLNG) in Lumut where it is cooled and liquefied. This is exported via tankers to mainly Japan and Korea.
In the eastern part of the district, Liang is currently experiencing a major development with the establishment of SPARK, which is a 271 hectare site developed to be a world class petrochemical hub. The first major investment at SPARK is the USD450 million Methanol plant developed by the Brunei Methanol Company, a joint venture between Petroleum Brunei and two leading Japanese companies, Mitsubishi Chemical Holdings Corporation and Itochu Corporation. The plant is scheduled for completion in the first quarter of 2010.
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Coordinates: 4°25′N 114°35′E / 4.417°N 114.583°E / 4.417; 114.583
Read more about this topic: Belait District
Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
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—Anthony, Sir Eden (1897–1977)
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—Friedrich Nietzsche (1844–1900)