Oil & Gas Mubadala Energy makes second gas discovery off Indonesia By Eva Levesque May 13, 2024, 11:42 AM Wam Mubadala Energy employed the drillship West Capella for its latest gas discovery off Indonesia Deep find 65km off North Sumatra Among ‘world’s most exciting energy plays’ Multi-trillion cubic feet prospects nearby Mubadala Energy, a wholly owned subsidiary of Abu Dhabi wealth fund Mubadala, has made a significant deep-sea gas discovery in Indonesia’s South Andaman Block. The Tangkulo-1 exploration well was drilled about 65 kilometres off North Sumatra and has an estimated capacity of 80 million-100 million cubic feet per day and over 2,000 barrels of condensate. The latest discovery marks the second deepwater well operated by the company and unlocks further potential in the southern part of the concession, Mubadala Energy said in a statement. It indicates an additional multi-trillion cubic feet of prospective gas resources in nearby structures. NewsletterGet the Best of AGBI delivered straight to your inbox every week NewsletterGet the Best of AGBI delivered straight to your inbox every week The Tangkulo-1 well was drilled to a depth of 3,400 metres in 1,200 metres of water. It produced 47 million cubic feet per day of gas and 1,300 barrels of condensate a few months after the major discovery at the Layman 1 well, considered the second largest deepwater discovery globally in 2023. Mansoor Mohammed Al Hamed, chief executive of Mubadala Energy, said the two discoveries promise to transform Indonesia’s and Southeast Asia’s energy landscape. “South Andaman is one of the world’s most exciting energy plays,” he said. Lack of discoveries pushes up oil and gas exploration costs Mubadala Energy cuts CO2 by 41% in low carbon drive UAE-Indonesia deal to add billions to bilateral trade Mubadala Energy holds an 80 percent working interest in South Andaman and is the largest net acreage holder in the area. Last week its parent company Mubadala announced an investment in a Perdaman urea project in Western Australia, in partnership with Global Infrastructure Partners. The A$6.4 billion ($4.2 billion) plant will adopt clean technologies, including solar energy and green hydrogen, and is expected to produce more than 2 million tons of urea per year. It will be the largest urea fertiliser facility in Australia and one of the world’s biggest, supporting food security for up to 90 million people. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
