Mubadala confirmed as operator of offshore Aceh PSC
Mubadala Petroleum has signed a production-sharing contract for Andaman I, as awarded by the government of Indonesia under the country’s 2017 License Round.
ABU DHABI, UAE – Mubadala Petroleum has signed a production-sharing contract (PSC) for Andaman I, as awarded by the government of Indonesia under the country’s 2017 License Round.
The company is also a partner to operator Premier Oil in the adjacentAndaman II PSC, both in the little explored North Sumatra basin offshore Aceh, a region Mubadala Petroleum has been involved in since 2011 via joint study agreements.
Both PSCs could deliver a new gas play for domestic consumption in North Sumatra and long-term exports to regional markets, Mubadala claimed.
Work commitment for the first three years in the Andaman I exploration block are subsurface studies and acquisition of 3D seismic.