The state of Brunei, a sultanate with an unbroken lineage of more than 600 years, has been sustained by oil and gas reserves for nearly a hundred years — more than a billion barrels of oil have been extracted from beneath its rich soils and adjacent seas. Petroleum resources account for more than half its gross domestic product and 90 percent of its exports, making Brunei Southeast Asia’s third-largest oil producer and the world’s fourth-largest producer of liquefied natural gas — staggering statistics for such a tiny nation.

Arriving in Bandar Seri Begawan, Brunei’s capital, is like landing in a giant display home, one of opulence on a grand scale, accomplished with style and flair. It’s no surprise Brunei was the venue for the 2000 Asia-Pacific Economic Cooperation Forum, where President Clinton made a keynote appearance.

The lavish architecture of Brunei draws predominantly from Arab and Persian design. The most striking buildings are Omar Ali Safuddien Mosque and Sultan Hassanal Bolkiah Mosque, displaying patterned tilework and a superb sense of proportion. The Gadong Shopping Mall and new government offices dazzle the eye, too — especially the Department of Religious Affairs building with its towering minarets and decorative colonnades.

In Brunei, all that glitters is very likely gold. The new Jame’ Asr Hassanal Bolkiah Mosque, with 29 minarets and a dome of 24-carat gold, is one of the world’s most lavish religious buildings. Also worth visiting is the Royal Regalia Building, where Sultan Hassanal Bolkiah’s gold-plated ceremonial chariot is just one of many treasures on display. And at Brunei’s National Handicrafts Centre, gold and cotton threads are laboriously woven to make songket cloth, a square yard of which can cost up to $800.

For many years, Sultan Haji Hassanal Bolkiah, celebrating a 40-year reign, was the world’s richest man. At the same time, Prince Jefri, his brother and former finance minister, was accused of misappropriating more than $17 billion of state assets. In March, Forbes magazine rated the sultan’s personal fortune at $20 billion, dropping him from first to fourth on the list of the world’s richest monarchs. Forbes added that Brunei’s oilfields are in danger of drying up.

With a new government mantra of “economic diversification,” the Brunei Economic Development Board has developed a long-term plan, Wawasan (Insight) 2035. While the labor force grew from 168,000 to 183,000 between 2005 and 2007, and women entrepreneurs now own or run nearly half the small- to medium-sized businesses, Wawasan 2035 recognizes that economic growth has not kept pace with population growth and that Brunei’s economic base must expand beyond oil and gas.

Industries under development include a large-scale photovoltaic project, the biggest in Southeast Asia, to be commissioned in 2010 in conjunction with Japan’s Mitsubishi Corp.; and the manufacture of hand phones, a joint venture of Dina Group Brunei and Singapore’s Christel Technologies Group.

The first known European visitor to Brunei was the Franciscan missionary Odoric of Pordenone, around 1323. There is no further news of visits by Europeans until 1521, when the explorer Antonio Pigafetta gave a lengthy account of his visit to Brunei and what is today Bandar Seri Begawan, “a city entirely built in salt water.”

Kampong Ayer (literally “water village”) has been called the “Venice of the East.” In fact, it’s a village built on stilts over the water, and has become a highly desirable place to live, with a population of more than 30,000 and its own schools, shops and clinics. Part of the thrill of the place is its transportation: What would otherwise be a mundane trip becomes an adrenaline-charged dance with death aboard its “flying coffin” speedboat river taxis.

Like President Clinton and Chinese Premier Hu Jintao, many visitors stay at the super-opulent Empire Hotel and Country Club in Jerudong, about a 15-minute drive from downtown, a nd play a round or two at the Country Club Golf Course, which has superb views of the South China Sea. The course is the brainchild of Jack Nicklaus, who reportedly spent more time on its design than any of his previous projects due to its challenging terrain.

While there are plenty of things brewing in Brunei, beer is not one of them. As a Muslim country, Brunei is officially alcohol-free. However, non-Muslims are permitted to import up to two liters of spirits or a dozen cans of beer twice a day — you’ll notice lots of foreigners’ cars making the 30-minute trip across the border to Limbang.

Evening is the best time to check out Jerudong Amusement Park — a gift from the sultan to the people of Brunei — 16 miles out of Bandar. Get your thrills on the Pusing Lagi (“Dizzy Again”) ride, an aptly named looping roller coaster that dangles you in mid-air. An all-day ticket covering all rides costs about $3.50 for adults, $2.10 for children.

You can also cruise the Brunei River in search of the rare proboscis monkey — bizarre-looking with its huge, bulbous nose, a giant belly and a long tail that ends in what looks like a wide spatula. The best time to see the monkey is in the evening as it comes out of hiding to feed. Late afternoon river cruises depart from Persiaran Park, just out of Bandar Seri Begawan. The range of wildlife I saw was beyond my wildest expectations. Plovers and egrets played overhead, alighting on branches of semi-sunken trees. Then, as a muezzin’s call to evening prayer wafted across the treetops, a phalanx of cattle egrets soared skyward in a spectacular display.