Mubadala Energy expands in Andaman Sea with block award, drilling success
13 Sep 2024
2 Min Read
CW Team
Mubadala Energy, based in Abu Dhabi, has acquired a 40 per cent stake in the Central Andaman block as part of its expanding exploration efforts in the Andaman Sea. This stake was awarded by the Indonesian oil and gas regulator, MIGAS, with Harbour Energy retaining a 60 per cent operating interest. The acquisition follows a recent Indonesian licensing round and supports Mubadala Energy's growth strategy in the region.
In addition to securing the new block, Mubadala Energy has successfully completed its South Andaman drilling campaign, which confirmed the multi-TCF potential of the Andaman Sea basin. This campaign involved the appraisal of the Layaran discovery through wells Layaran-1, Tangkulo-1, Layaran-2, and Layaran-2ST1, and it utilized advanced technology and deep-water expertise to ensure efficient and safe operations.
Adnan Bu Fateem, Chief Operating Officer of Mubadala Energy, emphasized that the successful bid for the Central Andaman block marked a significant strategic milestone, which would open up further opportunities. He noted that the company's operational expertise and deep understanding of the basin positioned them to unlock the potential of both South and Central Andaman. He also expressed anticipation in working with partners and government stakeholders to develop these projects.
Abdulla Bu Ali, President Director of Mubadala Energy Indonesia, commented on the safe and successful completion of the South Andaman drilling campaign, stating that the results were a major achievement for the team and a key milestone for the company. He highlighted that the campaign would support Indonesia鈥檚 energy transition and energy security goals.
The multi-well campaign in South Andaman and Andaman II allowed Mubadala Energy and its partners to confirm substantial in-place discovered resources. These resources are expected to play a significant role in the energy landscape of Indonesia and Southeast Asia. Mubadala Energy is now developing a strategy to bring these resources into production as swiftly as possible.
Mubadala Energy, based in Abu Dhabi, has acquired a 40 per cent stake in the Central Andaman block as part of its expanding exploration efforts in the Andaman Sea. This stake was awarded by the Indonesian oil and gas regulator, MIGAS, with Harbour Energy retaining a 60 per cent operating interest. The acquisition follows a recent Indonesian licensing round and supports Mubadala Energy's growth strategy in the region.
In addition to securing the new block, Mubadala Energy has successfully completed its South Andaman drilling campaign, which confirmed the multi-TCF potential of the Andaman Sea basin. This campaign involved the appraisal of the Layaran discovery through wells Layaran-1, Tangkulo-1, Layaran-2, and Layaran-2ST1, and it utilized advanced technology and deep-water expertise to ensure efficient and safe operations.
Adnan Bu Fateem, Chief Operating Officer of Mubadala Energy, emphasized that the successful bid for the Central Andaman block marked a significant strategic milestone, which would open up further opportunities. He noted that the company's operational expertise and deep understanding of the basin positioned them to unlock the potential of both South and Central Andaman. He also expressed anticipation in working with partners and government stakeholders to develop these projects.
Abdulla Bu Ali, President Director of Mubadala Energy Indonesia, commented on the safe and successful completion of the South Andaman drilling campaign, stating that the results were a major achievement for the team and a key milestone for the company. He highlighted that the campaign would support Indonesia鈥檚 energy transition and energy security goals.
The multi-well campaign in South Andaman and Andaman II allowed Mubadala Energy and its partners to confirm substantial in-place discovered resources. These resources are expected to play a significant role in the energy landscape of Indonesia and Southeast Asia. Mubadala Energy is now developing a strategy to bring these resources into production as swiftly as possible.
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