Media ININ Economy We Trust
Media iN / Jakarta 18-02-2019 / WAM
Mubadala Oil Company (Mubadala) signed a joint production contract for the South Andaman Field Project, which was awarded a concession from the Indonesian Government in the framework of the third round of direct tender for 2018. Mubadala Petroleum became the operator of South Andaman Field, Andaman 1 “next to him, and a partner in the field” Andaman 2.
The South Andaman field is located in the Aceh region of the North Sumatra Sea Basin, a promising undiscovered area where Mubadala Petroleum has become the largest concession area in the region, providing the company with the North Sumatra Basin Center for future exploration growth. .
Mubadala Petroleum has been operating in the region since 2011 through joint research agreements. These contracts provide access to new gas for domestic consumption in North Sumatra, and then export to regional markets over the long term.
The South Andaman work permit includes geological survey studies and three-dimensional seismic studies in the first 3 years.
“The South Andaman Field is their third project in the ASIA region under a joint production contract and it is also expanding our expansion into this rich region, which will further expand Mubadala’s oil portfolio in Indonesia,” said Dr Bakheet Saeed Al Kathiri, CEO of Mubadala Petroleum.
The signing of the South Andaman contract is part of the commitment to enhance the exploration potential of this highly promising high growth potential, along with Andaman II and Andaman II, and supports Mubadala’s expansion strategy. Exploration and development of gas fields, which will enable to meet the growing needs of the Indonesian market, based on the results of the exploration phase.
