GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Abu Dhabi, 09 April, 2018:  Mubadala Petroleum announces that it has signed the Production Sharing Contract (PSC) for Andaman I, as awarded by the Government of Indonesia in the 2017 Indonesian Licence Round. 

Mubadala Petroleum is the operator of the Andaman I PSC and a partner in the Andaman II PSC, operated by Premier Oil, which was also signed last week.
The Andaman I and II PSCs are adjacent and located in the underexplored but proven North Sumatra basin offshore Aceh, a region that Mubadala Petroleum has been involved in since 2011 through joint study agreements.  The PSCs have the potential to unlock a new material gas play for domestic consumption in North Sumatra and indeed long term export to regional markets.  

The work commitment for the Andaman I exploration block is to conduct sub surface studies and to acquire 3D seismic, in the first 3 year term.

Dr Bakheet Al Katheeri, Mubadala Petroleum's Chief Executive Officer, commented:” The operated Andaman I PSC and our interest in the Andaman II PSC, mark 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.”



Posted by : GoDubai Editorial Team
Viewed 34404 times
Posted on : Monday, April 9, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Government of Ras Al Khaimah Makes Key Appointments to Ras Al Khaimah Petroleum Authority
Next Story : Government of Ras Al Khaimah Launches Petroleum Licensing Round
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
The FW18 Trend Report From Weill Paris
Discover the Secret to Younger-looking, Radiant Skin
Keep your skin looking healthy and hydrated, naturally
Climax Mascara Never Fake It
Brighter Eyes with Skin Republic
Jessica Kahawaty in Dubai to Celebrate the Launch of SUKIN, Australia's No.1 Nat...
LOOTAH Perfumes brings a collection of delicate scents to fulfill the needs of t...
The Balmain Haute Elegance Oval mirrors the brand's soul
Brow Contour Pro 4-in-1 defining & highlighting brow pencil
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
BodyO launches officially its AiPod for a full body check-up during the Gitex Fu...
Lexus Design Award 2019 open for entries
Joyalukkas adds another jewel to its crown with the inauguration of its third sh...
Get flawless skin with Rodial's new Booster Drops
Johnson's launches Fresh Hydration Range – Cleansed, hydrated skin in just #OneSwipe
Trend Alert! Giddy up on the best platform with your new horse-inspo ensemble fr...
The World of Aigner Wunderkammer
Elegant and feminine new Mini Bubble set to make a big splash
Introducing the GUESS Jeans Fall 2018 Collection'
Manero Peripheral (43 Mm) Classic Watchmaking Meets State of,the Art Technology
Curate your perfect Autumn Winter wardrobe, with Robinsons
Dubai Shopping Festival Returns With Much-awaited Mega Raffles
DS Podium Chronograph 1/100 sec
Daniel Craig Brings the Diver 300m to the Surface
Global Report Reveals That the “Feeling of Home” Is Moving Beyond Four Walls
Reinforcing Smartphone's Weakest Link: Huawei Could Launch Ultra-Fast Charging B...
Dubai's newest social hub - Bar Baar introduces ‘Thela Baar Brunch'
Corum Heritage Eleganza- Dedicated to the stylish woman
Malabar Gold & Diamonds to triple number of outlets to 750 and raise Group turno...
With more collections and a more spacious car parking, Kalyan Silks moves to El...
OMEGA gets set to time the Youth Olympic Games Buenos Aires 2018
Sharjah Government pavilion highlights digital transformation of Sharjah at GITE...
Joyalukkas Celebrates the Festival of Light with Irresistible Offers
Kibsons Expand Vegan Range
Health Shield Medical Center to Celebrate Women of the Capital
AXOR is the official partner for bathroom fixtures of the Design Hotels™ brand
Lacoste Introduces the Keep Playing Collection for Women
Nokia smartphones serves first slice of Android™ 9 Pie on the award-winning Noki...
Emirates Airline Dubai Rugby Sevens 2018 FactSheet
The Ford F-150 Raptor: Your Ultimate Partner for Off-Road Adventure
Sharjah Girl Guides Unleash their Power on International Day of the Girl Child
Mohammad Abdullah, President of Dubai Institute of Design and Innovation (DIDI)
Festival Plaza Announces Lulu Hypermarket at New Lifestyle Destination
SIBF 2018 Invites Young Visitors to the Wondrous Land of Edutainment
Western Digital powers AI-enabled storage for futuristic surveillance and security
Fifi & Friends - Now available at more outlets across the UAE
Nissan to Make Official On-track Formula E Debut
UAE Toastmasters community to host the world champion of public speaking
Make your home stand out this winter
Toyota's legendary King goes urban with the 2019 Land Cruiser Grand Touring Edition