Mubadala Energy boosts gas portfolio with new discovery in Indonesia

Mubadala Energy boosts gas portfolio with new discovery in Indonesia

UAE – Mubasher: Mubadala Energy has announced a new gas discovery from the Layaran-1 Exploration well in South Andaman, according to a press release.

The well is located about 100 kilometres offshore of North Sumatra, Indonesia. It encountered an extensive gas column with a thickness of more than 230 metres in an Oligocene sandstone reservoir.

With an 80% working interest in South Andaman, Mubadala Energy is considered to be the largest net acreage holder in the area.

In line with the company’s gas-biased strategy, the discovery will have a positive outcome, as it will de-risk multi-TCF of prospective gas resources in the area.

It will also provide the foundation for future organic growth and additional exploration drilling activities in 2024.

Mansoor Mohamed Al Hamed, CEO of Mubadala Energy, said: “With our strategy to expand our gas portfolio to support the energy transition, this development offers material commercial opportunities and adds momentum to our strategic growth story.”

“ This is not only a significant development for Mubadala Energy but a huge milestone for Indonesia’s and Southeast Asia’s energy security.”

Mubadala Energy boosts gas portfolio with new discovery in Indonesia