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SPEECH BY
HIS EXCELLENCY PEHIN DATO ABDUL RAHMAN TAIB, THE MINISTER OF INDUSTRY AND PRIMARY RESOURCES
DINNER TO BID FAREWELL TO MR. MARK CARNE AND TO WELCOME MR. GRAHAEME HENDERSON, THE NEW MANAGING DIRECTOR OF BRUNEI SHELL PETROLEUM COMPANY
7.30 PM, MONDAY 11 APRIL 2005
INDERA KAYANGAN BALLROOM, EMPIRE HOTEL AND COUNTRY CLUB

BISMILLAHI RAHMANIR RAHIM
ASSALAMUALAIKUM WARAHMATULLAHI WABARAKATUH

On behalf of BSP, BLNG, BST, BSM and BGC, I wish to thank everyone here for being able to join my wife and I in bidding farewell to Mark and his wife, Heather who will be leaving Brunei at the end of this month and at the same time, welcome Markís successor, Grahaeme Henderson and his wife, Annmarie.

The petroleum industry continues to be an important industry to Brunei Darussalam. It is the backbone to the Nationís Economy and is expected to fuel the economic diversification efforts of this Country.

The Government of His Majesty through its Board of Directors in the various related Petroleum Companies and the Petroleum Unit have the important role in steering the development of the Industry as well as to align it with the aspirations and priorities of the nation, while at the same time ensuring that the industry in general and the joint venture companies in particular remain to be profitable from their activities.

With BSP I am pleased to say all the shareholders indeed have benefited from the mutual trust and understanding between one another that have been established for many years now and I look forwards to strengthening this relationship further in the years to come.

In this regard, I am pleased to note that since taking up the positions as Managing Director of BSP and BST in September 2003 Mark has undertaken to pursue several successful performance initiatives, including the discovery of oil at the Seria North Flank; the implementation of the International Ship and Port Facility Security (ISPS) Code requirements ahead of the deadline set; and the extension of the Petroleum Mining Agreement to mention a few.

Equally important was also the continued support by BSP towards the nationís Bruneianisation or localisation effort in placing competent and well experienced Bruneians in senior positions in the Company as well as the development of SMEs and entrepreneurs such as the Shell Livewire programme.

To Mark and Heather, on behalf of the BSP, BLNG, BST, BSM, BGC, I wish to thank you for the efforts and contributions made and we wish both of you continued success, good health, happiness and prosperity. I hope you will take with you happy memories and friendship of Brunei Darussalam and do come to visit us again in the future, even in your position in British Gas.

In the same breath may I also welcome Markís successor, Grahaeme Henderson and his wife, Annmarie to Brunei Darussalam and to the BSP Family.

I am sure with your experience, BSPís excellent performance will be ensured. We look forward to working closely with you in enhancing BSPís role and support towards the economic development of this country for the mutual benefit of all.

Thank you.

WABILLAHI TAUFIQ WALHIDAYAH, WASSALAMUALAIKUM WARAHMATULLAHI WABARAKATUH.

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