His Royal Highness Prince Haji Al-Muhtadee Billah ibni His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, the Crown Prince and Senior Minister at the Prime Minister's Office this morning officiated the opening ceremony of Oil Country Tubular Goods, OCTG threading plant and service centre SC Tubular Solutions Sendirian Berhad, SCTSB and VAM-BRN Sendirian Berhad. The opening ceremony marks the country's success in attracting foreign direct investments as well as provides employment opportunities to locals.

Upon arrival, His Royal Highness was welcomed by Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abd. Rahman bin Haji Ibrahim, Minister at the Prime Minister's Office and Second Minister of Finance; Yang Berhormat Pehin Datu Singamanteri Retired Colonel Dato Seri Setia Doktor Awang Haji Mohammad Yasmin bin Haji Umar, the Minister of Energy and Industry at the Prime Minister's Office, Mr. Ohashi Tomoyuki, Managing Director of VAM®BRN Sendirian Berhad and Mr. Stuart M'Cartney, General Manager of SCTSB Sendirian Berhad.

The ceremony began with the recitation of Surah Al-Fatihah led by Yang Berhormat Pehin Datu Imam Dato Paduka Seri Setia Ustaz Haji Awang Abdul Hamid bin Bakal. In his opening remarks, Mr Ohashi Tomoyuki among others said that the operation will bring new local business development opportunities not only in the form of direct hires and local spend but also in ancillary support services. It also represents a fantastic opportunity for local staff to develop their technical and operational skill sets in learning from industry leading professionals.

The OCTG threading plant is one of the many successful realizations of foreign direct investments or FDIs in Brunei Darussalam and demonstrates the commitment of the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam in attracting more FDIs to the country. The formation of Foreign Direct Investment and Downstream Industry (FDI-DI) Steering and Working Committee and FDI Action and Support Centre (FAST) has streamlined all FDI projects facilitation and approval process, contributing to the success of turning this FDI into a reality.

His Royal Highness then officiated the Oil Country Tubular Goods, OCTG threading plant and service center SC Tubular Solutions Sendirian Berhad and VAM-BRN Sendirian Berhad and received a Pasambah. Doa Selamat was read by Yang Berhormat Pehin Datu Imam Dato Paduka Seri Setia Ustaz Haji Awang Abdul Hamid bin Bakal.

His Royal Highness also signed a plaque and toured the exhibition of the Oil Country Tubular Goods, OCTG threading plant and service center. The SCTSB and VAM-BRN OCTG FDI is worth up to 52 million US dollars. It has successfully provided employment to 87 locals which make up 78% out of the total work force. The FDI project is estimated to contribute about 7 million Brunei Dollars in annual local spending, besides providing various spin-offs opportunities to local SMEs that is required to support this project such as Logistics, Construction & Engineering and Metal Fabrication. This is also the first time that the pipe threading technology has been exported out of Japan.

His Royal Highness also toured the Threading Plant. VAM-BRN is a joint venture company set up in Brunei between Nippon Steel & Sumitomo Metal Corporation (NSSMC), Sumitomo Corporation and Vallourec Tubes S.A.S from France. The SCTSB is a Sumitomo Corporation Group company. For more than 40 years, NSSMC and Sumitomo have been supplying seamless (OCTG) pipes for drilling activities to Brunei Shell Petroleum Company Sdn Bhd, BSP, a leading upstream oil and natural gas company in Brunei. In 2014, BSP, NSSMC and Sumitomo signed a contract to develop an integrated Supply Chain Management & local threading services of seamless Tubulars in Brunei, as part of their effort to increase local content including opportunities for local employment. VAM-BRN commenced OCTG local threading services in November 2016, and SCTSB started its provision of full Supply Chain Management Services with its own stock yard adjacent to VAM-BRN in January 2017. Since then both companies have been actively operating, in support of Brunei Shell Petroleum's hydrocarbon production operations and in support of the wider vision of Brunei Darussalam Wawasan 2035.

Source:
@BRUDIRECT.COM

by Brudirect.com

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