Abu Dhabi’s Mubadala Energy recently announced two significant milestones in its Andaman exploration activities.
In collaboration with Harbour Energy, Mubadala was awarded the Central Andaman license with a 40 percent share of operated interest by MIGAS. The Indonesian oil and gas regulator awarded the license as part of the recent Indonesian licensing round. The acquisition further strengthens Mubadala Energy’s growth strategy in the Andaman Sea.
“The successful bidding for the Central Andaman block is an important strategic development that will unlock further potential opportunities. Capitalizing on our operational capabilities and deep understanding of the basin we are well-positioned to realize the potential of South and Central Andaman,” stated Adnan Bu Fateem, chief operating officer of Mubadala Energy.
South Andaman drilling campaign complete
The company’s portfolio now consists of around 69 percent gas, with a working interest production in 2023 of approximately 369,000 barrels of oil equivalent per day.
In addition, Mubadala Energy confirmed the successful and safe completion of the South Andaman drilling campaign, with the appraisal of the Layaran discovery. The exploration and appraisal campaign, which included Layaran-1, Tangkulo-1, Layaran-2, and Layaran-2ST1 in South Andaman, also demonstrated the multi-TCF potential of the Andaman Sea basin. The exploration and testing activities harnessed cutting-edge technology and deep-water capabilities to ensure an efficient and safe drilling campaign.
“The results are not only a win for our team, but also an important milestone for our company that will support Indonesia’s energy transition and energy security priorities,” added Abdulla Bu Ali, president director, Indonesia, Mubadala Energy.
Read: Abu Dhabi’s Masdar City cuts CO2 emissions by 30.6 percent in 2023, reducing 3,392.6 tons
Developing Indonesia’s energy landscape
The multi-well campaign in South Andaman and Andaman II has enabled Mubadala Energy and its partners to confirm significant resource discoveries. These findings have the potential to play a vital role in the Indonesian and Southeast Asian energy landscape. Therefore, the company is actively forming a strategy to develop these resources into production as quickly as possible.
With a diverse portfolio spanning 11 countries, Mubadala Energy’s primary geographic focus is in the Middle East and North Africa, Russia and Southeast Asia. In line with its commitment to play an active role in the energy transition, the company is also expanding across the gas value chain and actively pursuing opportunities in new energy sectors.
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