UAE-Backed Mubadala Energy Secures New Indonesia Gas Block
The Andaman portfolio now spans South Andaman Central Andaman Andaman II and Southwest Andaman with first drilling in the new block expected in years four to six.
Mubadala Energy, the energy arm of Abu Dhabi’s sovereign wealth fund Mubadala Investment Company, has been awarded the Southwest Andaman exploration Production Sharing Contract in Indonesia.
The award adds a fourth block to the company’s portfolio in the Andaman basin, where it will operate the new concession with a 100% participating interest. The acreage is located adjacent to its existing holdings in the region.
The contract falls under Indonesia’s Gross Split scheme, which requires contractors to fund all operational and capital expenditure.
The first exploration well in the Southwest Andaman block is expected to be drilled during the second exploration phase, between the fourth and sixth years of the contract.
Mubadala Energy has been active in Indonesia since 2004 and has previously reported discoveries in the Andaman basin, including Layaran-1 and Tangkulo-1 in the South Andaman area.
With the latest award, its Andaman portfolio now comprises four blocks: South Andaman, Central Andaman, Andaman II and Southwest Andaman.
