Mubadala Energy announces new gas discovery in South Andaman
Mubadala Energy, a subsidiary of UAE's Mubadala Investment Company, on May 13 announced its second consecutive gas discovery in South Andaman, Indonesia. The Tangkulo-1 exploration well was drilled approximately 65 km offshore North Sumatra.
"With potential for over 2 trillion ft3 of gas-in-place, this discovery positions the Andaman area as one of the world's most important gas plays," stated Mubadala Energy in a statement.
This discovery underscores Mubadala Energy's commitment to its gas-biased strategy as a key bridge fuel in the energy transition. With an 80% working interest in South Andaman, Mubadala Energy stands as the largest net acreage holder in the region, it said.
Mubadala Energy in December 2023 announced a gas discovery in the Layaran-1 exploration well, situated approximately 100 km offshore North Sumatra.
“Together with the significant Layaran-1 well, this discovery adds material contingent volume and provides a platform for Mubadala Energy’s continued organic growth in the region,” Mubadala Energy said.