[Indonesia] Mubadala Made Discovery with Tangkulo-1 at South Andaman PSC

[escveritas]

Abu Dhabi, United Arab Emirates, 13 May, 2024 –Mubadala Energy, the international energy company headquartered in Abu Dhabi and the operator of the South Andaman Gross Split PSC, today announced another substantial gas discovery from the Tangkulo-1 Exploration well, drilled in South Andaman, about 65 kilometres offshore North Sumatra, Indonesia.

The discovery marks the second deep water well operated by the company. Tangkulo-1 was drilled to a depth of 3,400 meters in 1,200 meters water depth, just a few months after the major discovery at the Layaran-1 well, also in South Andaman.

The Tangkulo-1 well encountered 80 meters of gas column in a good quality Oligocene sandstone reservoir confirmed through an extensive data gathering campaign that includes obtaining a full core of 72 meters, wireline logging, sidewall core, pressure and fluid sampling. Utilizing a new Drill Stem Test (DST) design, the well successfully flowed 47 mmscf/d of excellent gas quality and 1,300 barrels of condensate. Although testing was constrained by testing facilities, the estimated well capacity is 80-100mmscf/d and over 2,000 barrels of condensate.

Mansoor Mohammed Al Hamed, CEO, Mubadala Energy, commented: “When added to our recent success at Layaran-1, this game-changing discovery promises to transform Indonesia’s and Southeast Asia’s energy landscape and demonstrates that South Andaman is one of the world’s most exciting energy plays.

By working with partners and harnessing our world class technical capabilities, I am confident we can realize the full potential of this block, in line with our commitment to support the government’s ambitious development timeframes. This news also strengthens our ability to play a proactive role in the energy transition through our gas biased strategy.”

With an 80% working interest in South Andaman, Mubadala Energy is the largest net acreage holder in the area. In line with company’s gas-biased strategy, Tangkulo-1 is an important pillar in the cluster’s development story, with the discovery unlocking further potential in the southern part of the block and indicating an additional multi-TCF of prospective gas resource in nearby structures.

Together with Layaran-1, this discovery adds material contingent volume and provides a platform for Mubadala Energy’s continued organic growth in the region through additional exploration and appraisal activities.

[escveritas]

Mubadala Energy signed Cooperation agreement with Indonesia's State-owned PT PLN to harness Natural Gas Discoveries

5 Nov 2024

Mubadala Energy, the Abu Dhabi headquartered international energy company, and Perusahaan Listrik Negara (PLN), Indonesia’s leading electric power distribution company, have today signed a Memorandum of Understanding (MoU) to explore potential strategic collaboration in both gas utilization and infrastructure development.

The agreement will assess power generation opportunities from the South Andaman blocks operated by Mubadala Energy, located in the offshore Northern part of North Sumatra, Indonesia. It follows the recently announced gas discoveries at the Layaran and Tangkulo fields in South Andaman, which amount to over 8 TCF of gas in place.

This collaboration initiative aims to harness the full potential of the region’s natural gas resources to meet growing energy demand while fostering infrastructure growth that benefits both businesses and local communities. It establishes a framework for the companies to conduct a joint study, examining the opportunities to develop natural gas resources for power generation. It also sets out the parameters to examine the infrastructure enhancements needed to support gas processing, transportation, and local economic growth in support of Indonesia’s energy security and energy transition goals.

Commenting on the agreement, Mansoor Mohamed Al Hamed, Managing Director & CEO of Mubadala Energy, said: “This is an important step forward in realizing our shared vision of sustainable energy development. We believe that by working together, we can unlock the full potential of South Andaman block, bringing significant value to both companies and the region as a whole.”

Echoing these sentiments, Darmawan Prasodjo, President Director of Perusahaan Listrik Negara (PLN) added: “Our collaboration with Mubadala Energy underscores our commitment to enhancing Indonesia’s energy landscape through strategic collaborations. We look forward to the study results, which will guide us in creating lasting economic and infrastructure benefits for Indonesia and beyond.”

The collaboration aligns with Indonesia’s broader energy goals, supporting sustainable growth and contributing to national energy security. Furthermore, it reflects a shared commitment to innovation, sustainable development, and value creation, in line with the drivers of the energy transition and the Indonesian and UAE Governments’ net zero targets.

[escveritas]

Mubadala Energy expanded Andaman Sea Discoveries

Abu Dhabi / Jakarta – 11 September, 2024 – Mubadala Energy, the Abu Dhabi headquartered international energy company, has today announced two significant milestones in its Andaman exploration activities.

The company together with Harbour Energy has been awarded the Central Andaman licence (Harbour 60% operated interest, Mubadala Energy 40%) by MIGAS, the Indonesian oil and gas regulator as part of the recent Indonesian licensing round. The acquisition further strengthens Mubadala Energy’s growth strategy in the Andaman Sea, providing added prospectivity in the basin.

In addition, Mubadala Energy has also confirmed the successful and safe completion of the South Andaman drilling campaign, with the appraisal of the Layaran discovery. The exploration and appraisal campaign, which included Layaran-1, Tangkulo-1, Layaran-2 and Layaran-2ST1 in South Andaman, demonstrated the multi-TCF potential of the Andaman Sea basin. The exploration and testing activities harnessed advanced technology and deep-water capabilities to ensure an efficient and safe drilling campaign.

Commenting on the latest development, Adnan Bu Fateem, Chief Operating Officer, Mubadala Energy, said: “The successful bidding for the Central Andaman block is an important strategic development that will unlock further potential opportunities. Capitalising on our operational capabilities and deep understanding of the basin we are well positioned to realize the potential of South and Central Andaman and look forward to working with our partner and government stakeholders to develop these projects.”

Abdulla Bu Ali, President Director, Indonesia, Mubadala Energy, added: “We are delighted to have concluded this drilling campaign successfully while maintaining safe operations. The results are not only a win for our team, but also an important milestone for our company that will support Indonesia’s energy transition and energy security priorities.”

This multi well campaign in South Andaman and Andaman II has enabled Mubadala Energy and its partners to confirm significant in-place discovered resources which have the potential to play a vital role in the Indonesian and Southeast Asian energy landscape. The company is actively forming a strategy to develop these resources into production as quickly as possible.