Mubadala Energy Reports Significant Momentum in Key Indonesian Development Project

Tangkulo in the South Andaman Sea Making Significant Progress Towards Early Milestones

Investment in Capabilities and Capacity Positions Company for Future Development of Multi-TCF Discoveries

Abu Dhabi, 5 November 2025 – Mubadala Energy, the international energy company headquartered in Abu Dhabi, has announced significant progress in the development plans for the Tangkulo gas project, one of the key projects in the company's strategic Andaman Sea position.

With Front End Engineering Design (FEED) and Long Lead Item (LLI) contracting making good progress, the Tangkulo development is advancing ahead of schedule, with the Plan of Development (POD) expected by Q4 2025, Final Investment Decision (FID) by June 2026, and first gas by Q4 2028.

Commenting on the latest update, Mansoor Mohamed Al Hamed, Managing Director & CEO Mubadala Energy, said: “Our multi-TCF discoveries in South Andaman present a significant growth opportunity for Mubadala Energy and the accelerated development timeline reflects the strategic importance of this project for Indonesia's energy security. Mubadala Energy is committed to growth and our operations in Indonesia form a critical pillar of our portfolio expansion strategy.”

The gas marketing strategy is also making significant headway with a shared aim to deliver energy security for Indonesia through reliable, affordable domestic gas that reduces reliance on LNG imports.

The Tangkulo discovery was made in May 2024 and is located in the South Andaman Gross Split PSC, about 65 kilometres offshore North Sumatra. The well was drilled to a total depth of 3,400 meters in approximately 1,200 meters of water, marking Mubadala Energy's second consecutive deepwater gas discovery with 2+TCF of gas-in-place. This came just months after the company's major 8+ TCF discovery at Layaran, also in the South Andaman block, operated by Mubadala Energy, with 80% working interest.

Following the recent award of the Central Andaman block license, Mubadala Energy now holds the largest net acreage position in the region, proving the scale and potential synergies to significantly expand gas production to meet Indonesia's energy security needs and create opportunities for international export.

In addition to significant momentum on key development milestones, Mubadala Energy has recruited over 50 specialized members of staff in areas such as deep-water exploration, development, and project management. A state-of-the-art, digitally-enabled new office space in Jakarta has also created further momentum to Mubadala Energy's Indonesia growth story.

These developments are further supported by expanded community investment activities, including training for future members of the local workforce and the delivery of education and environmental programs which reinforce the company's long-term commitment to Indonesia.