Mubadala Energy Continues to Invest in Indonesia

Mubadala Energy Continues to Invest in Indonesia

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 The Abu Dhabi Head Quartered International Energy Company is Focused on Developing Existing Operations while Supporting Local Communities

Jakarta (ANTARA) – Mubadala Energy, the international energy company headquartered in Abu Dhabi, UAE, has reaffirmed its commitment to Indonesia following the G20 and B20 events taking place in Bali, Indonesia.

Mubadala Energy has been present in Indonesia for well over 10 years, with four offshore Production Sharing Contracts (PSCs): In the Makassar Strait, the Sebuku PSC includes the producing Ruby gas field, while offshore North Sumatra the company holds the Andaman I and South Andaman Gross Split PSCs. In addition, the company holds a 30% working interest in the Andaman II PSC, where Harbour Energy is the operator.

Most recently Mubadala Energy announced positive results in the company’s Andaman II Acreage following an exploration drilling campaign at the Timpan-1 exploration well located 150 kilometers offshore of North Sumatra, Indonesia, where a 390-foot gas column was discovered. These findings are especially important because they are a strong signal that the adjacent Andaman I and South Andaman fields, in which Mubadala Energy holds an 80 percent participating interest, will also include material underexplored resources.

Commenting on Mubadala Energy’s position in Indonesia, Mansoor Mohamed Al Hamed, CEO of Mubadala Energy, said; “Our long-term strategy in Indonesia not only demonstrates our commitment to the market but underlines the strength of our partnerships. With the demand for gas increasing across the Southeast Asia region, our gas-biased strategy can help meet energy demand in this dynamic and fast-growing market in line with our shared focus on the energy transition. We remain committed to continue investing in our operations in Indonesia and in the local communities we operate in.”

Mubadala Energy’s commitment comes alongside an excellent safety record in which the company has maintained a no ‘Lost Time Incident’ (LTI) record, culminating in receiving the prestigious Professor Subroto Award in the category of Oil and Gas Safety, from Indonesia’s Ministry of Energy and Mineral Resources in 2021. In the same year, the company received Indonesia’s Green Proper Rating Award for a second consecutive year from the Indonesian Ministry of Environment and Forestry for ‘outstanding environmental management performance’.

Employing a 95 percent Indonesian workforce, the company remains committed to developing local talent and supporting the national economy, having also achieved 100 percent local sourcing in Indonesia. In line with Mubadala Energy’s long-standing commitment to local communities, it has also provided support through education, environment, and community development projects, particularly in areas adjacent to the Ruby gas field in the Makassar Strait and several regions of Aceh.

Through these community investment programs, well over 215,000 people have been positively impacted over ten years. Most recently, the company has made a further commitment to extend a wide number of programs, including education scholarship support for low-income families in Kotabaru.

Since its inception in 2015, 284 scholarships have been awarded to Kotabaru Polytechnic students, 102 of whom have graduated with the assistance of these scholarships, and more than a third of these graduates have found employment.

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