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 >> Others

 
  Share

Abu Dhabi, 17 July, 2019:   Mubadala Petroleum announces that it has signed an agreement with Premier Oil to farmout a 20 percent participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts (PSCs). Mubadala Petroleum is the operator of both the Andaman I and adjacent South Andaman PSCs. 

Completion of the transaction is subject to customary conditions including government approvals.
 
The Andaman I and South Andaman PSCs are located in the underexplored but proven North Sumatra basin offshore Aceh. Mubadala Petroleum is also a partner with a 30 percent participating interest in the Andaman II PSC which is operated by Premier Oil. With participating interests in these three adjacent blocks, Mubadala Petroleum is the largest net acreage holder in the area, securing the core of the North Sumatra basin for future exploration growth.

The PSCs have the potential to unlock a new material gas play for domestic consumption in North Sumatra and potentially long-term export to regional markets.  
Dr Bakheet Al Katheeri, Mubadala Petroleum's Chief Executive Officer, commented:” With this farmout, Mubadala Petroleum will extend its partnership with Premier Oil for the exploration of the Andaman blocks offshore Aceh.

Both partners have a strong commitment to this new high impact growth area which supports Mubadala Petroleum's growth strategy of finding and, if successful, developing gas for Indonesia's growing markets.” 



Posted by : GoDubai Editorial Team
Viewed 6350 times
Posted on : Wednesday, July 17, 2019  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story :
Next Story :
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
AIGNER - Mother's Day
Why User Experience is Essential for Travel Business Growth?
Foreo Reveals Red Carpet Secrets for Fresh & Glowing Skin
Tissot T-Wave Bicolour Glamour always!
Hot SS20 New Launches From Rodial For Your Make-Up Kit
Foreo Set to Break the Beauty Stratosphere According to Experts
ASICS Spring / Summer 2020 Collection
COLOR WOW Launches EXTRA Mist-ical Shine Spray
Mother's Day Gift Guide 2020
Offering a Better Insight Than Stocks
St Valentine's Day'
Jaguar Land Rover on Tour Sheikh Hamdan's Falcons Dominate Hurr Category in Fakh...
6 Trends That Will Dominate Beauty in 2020 According to Foreo
Dina Akesbi joins Clio Beauty on the Professional Beauty GCC Mainstage on 18th Feb!
Race Day Edit
Costa Coffee Introduces 4u Healthy Food Range Across All UAE Stores in Partnersh...
Best Gifting Picks for Him & Her This Valentine's Day From Grand Optics!
V-Motif Western
Max Mara Valentines Special
Ortendahl Makes Team Abu Dhabi Debut in Kuwait as Al Mulla Launches Bid for Thi...
5 Ways To Bring Spring's Top Trends Into Your Wardrobe
HONOR Launches the Iconic Glass Designed HONOR 20 in the UAE
City of Gold Rewarded 200 Jewellery Shoppers With 4 Million Worth of Dubai City ...
Rado True Thinline Les CouleursTM Le Corbusier'
Corum Admiral's Cup Legend 47 Worldtimer'
Cisco Accelerates Applications in a Hybrid Multicloud World
Union Coop to Sponsor the FAZZA Championships for People of Determination 2020
Kim Clijsters To Begin Her Comeback at Dubai Duty Free Tennis Championships
AS World Group Global Roadshow Promotes Expo 2020 Dubai at 33rd African Union Su...
SPORTMAX 50th Anniversary Capsule Collection
Dairy Has the Nutritional Credentials to Meet Snacking Boom Driven by a Health &...
Italian Food Exports to the UAE Increases by 11%, Reports ITA Ahead of Italian P...
Dubai Customs Graduates 1st Batch of “Dubai Customs Leaders” Program
Japanese Driver Takuma Aoki Joins the Jaguar I-pace Etrophy Series With Team Yok...
Team Abu Dhabi Riders Grab Double Triumph On Dramatic Race Day in Kuwait
Aston Martin DBX Makes First Public Appearance in UAE
Arla Foods Introduces New Baby&me Organic Products to Saudi Arabian Market
Samsung's New Galaxy S20 Now Available for Pre-Order in the UAE
Made in Italy: Top Picks from the Latest Deborah Milano Make-Up Range
Marks & Spencer, Britain's Best Loved Denim
Korea's Number One Beauty Brand Innisfree All Set to Celebrate the Grand Opening...
Spring is in the Air at West Elm
Mother's Day Gifting - Steve Madden
Samsung Introduces Galaxy S10 Lite and Note10 Lite in the UAE
Now at IKEA Dubai you can buy with your time. IKEA's latest innovation converts ...
Building on the Success of Last 25 Years, Nikai Group Continues Its Growth by Co...
A Limited-time-only Hangout Space Has Launched at City Centre Sharjah
Yahsat Receives Commendation for Its Participation at National Science, Technol...
Parmigiano Reggiano Consortium Participates in Gulfood
Sharjah Crown Prince Inaugurates the 22nd National Career Exhibition at Expo Cen...