Search DubaiPRNetwork.com

Home >> Energy and Industry

Mubadala Petroleum Signed South Andaman PSC in Indonesia

Mubadala Petroleum Signed South Andaman PSC in Indonesia

Monday, February 18, 2019/ Editor -  

Share

Home >> Energy and Industry

Abu Dhabi, 18 February 2019:  Mubadala Petroleum announces that it has signed the Gross Split Production Sharing Contract (PSC) for South Andaman, as awarded by the Government of Indonesia pursuant to the 2018 Indonesian Third Direct Tender Round. Following the signing, Mubadala Petroleum is the operator of both the South Andaman and the adjacent Andaman I PSC and a partner in the Andaman II PSC.  

The South Andaman PSC is located in the underexplored but proven North Sumatra basin offshore Aceh. With participating interests now in three adjacent blocks, Mubadala Petroleum is the largest net acreage holder in the area, securing the core of the North Sumatra basin for future exploration growth. 

Mubadala Petroleum has been involved in the region since 2011 through Joint Study Agreements. The PSCs have the potential to unlock a new material gas play for domestic consumption in North Sumatra and indeed long-term export to regional markets.  

The work commitment for the South Andaman PSC is to conduct sub surface studies and to acquire 3D seismic, in the first 3-year term. 


Dr Bakheet Al Katheeri, Mubadala Petroleum’s Chief Executive Officer, commented:” The South Andaman PSC is our third offshore block in Aceh under the gross split regime and marks a further extension of our Indonesia portfolio in this high potential region. Our successful bid for South Andaman underscores our commitment in this new high impact growth area together with Andaman I and II and supports our growth strategy of finding and, if successful, developing gas for Indonesia’s growing market. We look forward to completing the seismic work program across all three blocks as soon as possible before taking our evaluation to the next stage.”


Previous in Energy and Industry

Next in Energy and Industry


Home >> Energy and Industry Section

Latest Press Release

New Discovery Sport: Enhanced for Every Family Adventure

Police Is the Official Eyewear in the Sony Pictures Film “Men in Blacktm: Intern ...

Schneider Electric Worldwide Employee Share Ownership Plan (WESOP) wins the ‘Bes ...

Sony Corporation achieves strong operating income of US$ 8.06 Billion for FY 201 ...

Dubai Municipality down Public Prosecution to retain NAS Wheelchair Basketball t ...

LG to Accelerate Development of Artificial Intelligence With Own Ai Chip

Toyota claims two prestigious titles at the Middle East Car of the Year awards ...

Al Tayer Motors launches Lincoln Nautilus in the UAE

FOX Networks Group Democratizes Programming this Ramadan 270,000 votes determin ...

New Muslims Awarding during Ramadan Dubai activities

Schneider Electric leads the transition to energy efficient and sustainable futu ...

Ministry of Community Development, Etihad Airways And Abu Dhabi Airports Provide ...

Fatima Bint Mubarak Academy Concludes its Participation in Zayed Sports Tourname ...

Supreme Armenian Patriarch Hails UAE as Global Model of Peaceful Coexistence

Turkish Airlines to Open Five Lounges at the New Istanbul Airport

KIA Telluride Offers Rugged Luxury

Game Of Phones: 8 reasons why software should sit on the throne

HP and Siemens Deepen Additive Manufacturing Alliance to Advance Digital Manufac ...

Pure Gold Jewellers launches Arabic calligraphy diamond pendants for Eid

Dubai Cares successfully wraps up its Ramadan volunteering initiative with the p ...