Mubadala unit completes farmout of 20% stake in Indonesia’s gas blocks

Mubadala unit completes farmout of 20% stake in Indonesia’s gas blocks

Mubadala Petroleum on Tuesday announced that it has completed the farmout of a 20 percent participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts (PSCs), to Premier Oil following Indonesian Government approvals.. Following completion, Mubadala Petroleum, as operator, has 80 percent participating interest in each of the Andaman I and adjacent South Andaman PSCs, with Premier Oil holding the remaining 20 percent participating interest in the two blocks, the company said in a press statement.. Mubadala Petroleum is also a partner with a 30 percent participating interest in the Andaman II Gross Split PSC, which is operated by Premier Oil..