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, reported WAM.
Commenting on the
latest update, Mansoor Mohamed Al Hamed, Managing Director and 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 metres in approximately 1,200 metres 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 percent 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 specialised 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.
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