Mubadala Petroleum’s Gas-Biased Strategy Gets Boost in Indonesia

Mubadala Petroleum’s Gas-Biased Strategy Gets Boost in Indonesia

/ Oil & Gas / Thursday, 14 July 2022 08:00

Mubadala Petroleum, the Abu Dhabi headquartered international energy company, announced that the drilling of the Timpan-1 exploration well, located 150 kilometers off the coast of North Sumatra, Indonesia, has been completed, with the welcomed discovery of a 390-foot gas column in a high net-to-gross fine-grained sandstone reservoir.

The exploration well, Timpan-1, is operated by Harbour Energy, which has conducted the drilling campaign and holds a 40% license stake in the field, along with partners bp PLC (30%) and Mubadala Petroleum PLC (30%). The well uncovered a good quality gas column, with the well test reaching a rate of 27 million standard cubic feet of gas per day (mmscfd/d) and 1884 bbl/d of condensate.

“These findings are especially important because they are a strong signal that the adjacent Andaman I and South Andaman fields, in which Mubadala Petroleum holds an 80% participating interest, will also include      underexplored material resources. As the largest net acreage holder in the area, having secured the core of the underexplored yet proven basin in the Andaman region, the positive outcome from the Timpan-1 discovery will support de-risking multi Tcf prospects and provide a foundation for future organic growth in line with the company’s gas-biased strategy,” reads the company statement.

Commenting on the discovery, Mansoor Mohamed Al Hamed, CEO of Mubadala Petroleum, said, "Our long-term strategy in Indonesia not only demonstrates our commitment to the market but underlines the strength of our partnerships. With demand for gas increasing across the Southeast Asia region, this discovery not only supports our gas-biased strategy but has the potential to help meet energy demand in this dynamic and fast-growing market."

With Mubadala Petroleum’s operation of the Ruby Gas field in Indonesia having reached a cumulative gas production of over 250 billion cubic feet, it is now in a late stage of production. These discoveries therefore have the potential to deliver significant development opportunities for the company’s longer term business plans.

Also read: Mubadala Petroleum Hits 500,000 Boed For the First Time

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