The industry had been waiting with bated breath for the formal launch of the National Oil Company, which was announced when the 2001 licensing round was revealed in January.
Observers had expressed concern that full details of the newly-formed outfit and its intended role were not available when bids for the licensing round closed on 1 November. The Prime Minister's Office said: "The new national oil company will help to consolidate and mobilise the petroleum industry in Brunei Darussalam; to play a more active and participatory role in both petroleum exploration and development; and to accelerate development of the domestic industrial base in the country."
Bids
