Mubadala in Thailand drilling success

Multinational

PERTH, June 20, 2018 – Mubadala Petroleum has struck oil in a development well in the Manora oilfield offshore Thailand, partner Tap Oil announced on Wednesday.

Well MNA-20 at the G1/48 concession encountered around 82 metres of net pay, a week after well MNA-21 nearby struck 17 metres of hydrocarbons deposits.

Mubadala operates the field with a 60% stake in the concession alongside partners Tap Oil (30%) and Northern Gulf Petroleum (10%).

The news came as Mubadala announced that it had completed the acquisition of a 10% stake in the Shorouk concession offshore Egypt from Eni in a deal valued at USD 934 million. The concession includes the massive Zohr gasfield.

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