Mubadala signs Andaman I PSC in Indonesia

Indonesia

JAKARTA, April 9, 2018 – Mubadala Petroleum signed the PSC for the Andaman I block, the company announced Monday.

It was awarded the block, which is adjacent to the Andaman II block in which it is a partner, in the 2017 Indonesian Licence Round. The work commitment involves 3D-seismic studies in the first three years.

“The operated Andaman I PSC and our interest in the Andaman II PSC, marks the further extension of our Indonesia portfolio with a new high impact growth hub. These new exploration blocks support our growth strategy of finding and, if successful, developing gas for Indonesia’s growing market while it has the potential to deliver significant organic growth opportunities for our existing Indonesian business in the longer term,” the company’s CEO, Bakheet Al Katheeri, said in a statement.