LYCOS RETRIEVER 
Brunei: Brunei Shell
built 645 days ago
Brunei has a low tariff regime and no personal income tax. Company tax is 55 per cent for the two oil and gas companies: Brunei Shell and Jasra Elf, and 30 per cent for other companies.
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Brunei consists of two unconnected parts with a total area of 2,226 sq. miles (5,765 sq. kilometers). 97% of the population lives in the larger western part, while only about 10,000 live in the mountainous eastern part (the district of Temburong). The total population of Brunei is 383,000, of which around 46,000 live in the capital Bandar Seri Begawan. Some major towns are the capital Bandar Seri Begawan, the port town Muara, the oil producing town of Seria and its neighboring town, Kuala Belait. In the Belait district, the Panaga area is home to large numbers of expatriates due to Royal Dutch Shell and British Army housing and recreational facilities. The well-known Panaga Club is situated here.
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In 2003, Malaysia disputed Brunei-awarded oil exploration concessions for offshore blocks J and K (Total and Shell respectively), which led to the Brunei licensees ceasing exploration activities. Negotiations between the two countries are continuing in order to resolve the conflict. Two on-shore blocks are being explored following awards to two consoria--one Canadian-led and the other an Australian-led operating consortium. Australia, Indonesia, and Korea were the largest customers for Brunei's oil exports, taking over 67% of Brunei's total crude exports. Traditional customers Japan, the U.S., and China each took around 5% of total crude exports.
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This monument was commissioned by Brunei Shell Petroleum, and was designed by a local architect. It commemorates the production of the billionth barrel of oil by the Seria oilfield, and stands near the seawall close to site of S-1, the first well dug some 60 years ago.
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