The Bugan field, approximately 21 kilometers off the coast of Brunei, was discovered in the 1990s, and Brunei Shell has said it holds "potentially significant oil and especially gas reserves".

The company didn't mention output estimates in the statement released to the media yesterday.

Brunei's crude oil output averaged 175,000 barrels a day, according to BP's Statistical Review of World Energy.

Brunei Shell Petroleum, the only oil and natural gas producer in the sultanate, is an equal joint venture between Royal Dutch Shell PLC (RDSB.LN) and the state of Brunei.

-By Simon Hall, Dow Jones Newswires; +86-106566 5848; simon.hall@dowjones.com
Shell (LSE:SHEL)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Shell Charts.
Shell (LSE:SHEL)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Shell Charts.