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    09-04-18-Mubadala-Petroleum-Release - Andaman-Psc Signed

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    Mubadala Petroleum has signed the Production Sharing Contract for the Andaman I block in Indonesia as part of the 2017 Indonesian Licence Round. Mubadala Petroleum is the operator of the Andaman I block. It also has a non-operated interest in the adjacent Andaman II block, which was also signed last week. The Andaman I and II blocks have the potential to unlock a new gas play for domestic consumption and export in the underexplored but proven North Sumatra basin offshore Aceh. The work commitment for Andaman I is to conduct subsurface studies and acquire 3D seismic over the next three years.

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    09-04-18-Mubadala-Petroleum-Release - Andaman-Psc Signed

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    Mubadala Petroleum has signed the Production Sharing Contract for the Andaman I block in Indonesia as part of the 2017 Indonesian Licence Round. Mubadala Petroleum is the operator of the Andaman I block. It also has a non-operated interest in the adjacent Andaman II block, which was also signed last week. The Andaman I and II blocks have the potential to unlock a new gas play for domestic consumption and export in the underexplored but proven North Sumatra basin offshore Aceh. The work commitment for Andaman I is to conduct subsurface studies and acquire 3D seismic over the next three years.

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    Mubadala Petroleum has signed the Production Sharing Contract for the Andaman I block in Indonesia as part of the 2017 Indonesian Licence Round. Mubadala Petroleum is the operator of the Andaman I block. It also has a non-operated interest in the adjacent Andaman II block, which was also signed last week. The Andaman I and II blocks have the potential to unlock a new gas play for domestic consumption and export in the underexplored but proven North Sumatra basin offshore Aceh. The work commitment for Andaman I is to conduct subsurface studies and acquire 3D seismic over the next three years.

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    © All Rights Reserved
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    Download as pdf or txt
    60 views3 pages

    09-04-18-Mubadala-Petroleum-Release - Andaman-Psc Signed

    Uploaded by

    Rubbish1234Name
    Mubadala Petroleum has signed the Production Sharing Contract for the Andaman I block in Indonesia as part of the 2017 Indonesian Licence Round. Mubadala Petroleum is the operator of the Andaman I block. It also has a non-operated interest in the adjacent Andaman II block, which was also signed last week. The Andaman I and II blocks have the potential to unlock a new gas play for domestic consumption and export in the underexplored but proven North Sumatra basin offshore Aceh. The work commitment for Andaman I is to conduct subsurface studies and acquire 3D seismic over the next three years.

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    Media Release

    Mubadala Petroleum Signed Andaman I PSC in Indonesia

    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.”

    END

    Mubadala Petroleum’s portfolio in Indonesia


    Media Release

    Dr Bakheet Al Katheeri, Chief Executive Officer, Mubadala Petroleum

    About Mubadala Petroleum


    Media Release

    Mubadala Petroleum is a leading international, upstream oil and gas exploration and production
    company and a wholly-owned subsidiary of Mubadala Investment Company (Mubadala).
    Mubadala is owned by the Government of Abu Dhabi.

    We manage assets and operations spanning eight countries with a primary geographic focus on
    the Middle East and Southeast Asia. Our working interest production in 2017 was approximately
    320,000 barrels of oil equivalent per day.

    In Indonesia, we have been presence since 2004 and operate three offshore Production Sharing
    Contracts (PSC): In the Makassar Strait the Sebuku PSC with the producing Ruby gas field and
    the West Sebuku PSC plus offshore Aceh the Andaman I PSC. We also have a non-operated
    interest in the Andaman II PSC.

    For more information, please visit www.mubadalapetroleum.com

    Further information:

    Angela Soeteber, Acting Head Communications


    [located South East Asia]
    M: +65 9018 2071
    angela.soeteber@mubadalapetroleum.com

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