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The acquisition further strengthens Mubadala Energy’s growth strategy in the Andaman Sea providing added prospectivity in the basin
Mubadala Energy announced two significant milestones in its Andaman exploration activities. The company together with Harbour Energy has been awarded the Central Andaman license (Harbour 60% operated interest, Mubadala Energy 40%) by MIGAS, the Indonesian oil and gas regulator as part of the recent Indonesian licensing round. The achievement strengthens Mubadala Energy’s growth strategy in the Andaman Sea, providing added potential in the basin.
In addition, Mubadala Energy has also 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, demonstrated the multi-TCF potential of the Andaman Sea basin. The exploration and testing activities harnessed advanced technology and deep-water capabilities to ensure an efficient and safe drilling campaign, the firm said.
“The successful bidding for the Central Andaman block is an important strategic development that will unlock further potential opportunities. Capitalising on our operational capabilities and deep understanding of the basin we are well positioned to realise the potential of South and Central Andaman and look forward to working with our partner and government stakeholders to develop these projects,” said Adnan Bu Fateem, Chief Operating Officer, Mubadala Energy.
Abdulla Bu Ali, President Director, Indonesia, Mubadala Energy added, “We are delighted to have concluded this drilling campaign successfully while maintaining safe operations. 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.”
This campaign in South Andaman and Andaman II has enabled Mubadala Energy and its partners to confirm significant in-place discovered resources, which is potential to play a vital role in the Indonesian and Southeast Asian energy landscape. The company is actively forming a strategy to develop these resources into production as quickly as possible. |
