Ahmed bin Abdulnabi Macki, Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Council, met yesterday with Pehin Datu Haji Mohammed, Energy Minister in Brunei Darussalam. The meeting covered a number of issues related to bilateral economic and investment co-operation in the field of oil and gas and energy sectors. Macki highlighted the efforts made by the Sultanate"s government to raise the Sultanate"s production of oil and gas.

He pointed out that, while the Sultanate currently produces 784,000 barrels of oil per day, it strives to increase its production and raise its output to 804,000 barrels per day by the end of 2009. He noted that a number of international oil companies are undertaking explorations for oil in the different regions of the Sultanate. Macki also stressed the importance of establishing joint ventures in oil and gas sectors, even as Oman Oil company (OOC) has the expertise and the investment relations that will enable it to invest in different energy industries.

Haji Mohammed, highlighted the efforts of his country to develop its oil and gas resources. He pointed out that Brunei produces about 170,000 barrels per day. He hoped that Macki’s visit will widen the scope of co-operation between Omani and Brunei companies. Macki also met with Pehin Dato Hajji Abdul Rahman bin Haji Ibrahim, second Finance Minister in Brunei Darussalam. The two sides discussed a number of issues related to bilateral co-operation, ways to utilise financial resources in implementing the development programmes, devising plans and conducting studies. The two sides also reviewed the economic and financial conditions witnessed by the world due to the global financial crisis.

Macki highlighted Oman"s development plans and programmes in implementing its projects within the framework of 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 growth. The Brunei minister expressed his admiration of the development plans and programmes adopted by the Sultanate"s government in implementing its development projects. He expressed keenness to benefit from the Sultanate"s experience in this field.

The talks were attended by Dr Shaikh Abdulmalik bin Abdullah al Hinai, National Economy Ministry"s Under-Secretary for Economic Affairs, 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), Sayyid Fakhri bin Mohammed al Said, Sultanate"s Ambassador to Brunei Darussalam and members of the accompanying delegation.