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6 Employees

  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Tax paid


  • Tax accrued


  • Tangible assets


  • Stated capital


  • Accumulated earnings


Main Business Activities

  • Upstream

Shell has been present in Brunei for more than 90 years and our activities are mainly carried out by non-Shell-operated joint venture companies. The figures above are for Shell’s wholly-owned entities in Brunei that are active in exploration and production.

Country Financial Analysis

The statutory petroleum income tax rate in Brunei is 55%. Production-sharing contracts (PSCs) are assessed individually by legal entity or asset. This means that losses in one PSC may not be offset against profits arising elsewhere. The tax paid and accrued in 2020 is in relation to one of the operating companies which is in a profitable position. Another operating company made losses from exploration activities, resulting in an overall loss position.

Production-sharing contracts or concessions
A production-sharing contract (PSC) is a contractual arrangement between the holders of a resource, typically a country’s government, and a resource extraction company concerning how much oil or gas each party would receive. The company bears the mineral and financial risk of the initiative. It explores, develops and, if successful, manages production. Costs are recovered through the sales of oil or gas and what is left over is split depending on the terms of the contract.
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