LIVE: Rwandans vote in presidential and parliamentary elections

LIVE: Rwandans vote in presidential and parliamentary elections

LIVE: Rwandans vote in presidential and parliamentary elections

LIVE: Rwandans vote in presidential and parliamentary elections

LIVE: Rwandans vote in presidential and parliamentary elections

LIVE: Rwandans vote in presidential and parliamentary elections

BREAKING

Abu Dhabi energy company announces major gas discovery off Indonesian coast

A ship carrying metal to supply a larger cargo ship waits offshore at Amamapare port, where there is no activity after thousands workers from U.S. giant Freeport McMoRan Copper & Gold's mine held a mass strike since last Monday in Timika, Indonesia's Papua province July 10, 2011. A strike that has paralysed production at Freeport Indonesia's Grasberg mine, one of the world's biggest sources of copper and gold, will be extended to a second week after talks between the firm and union workers broke down, a union official said on Friday. Picture taken July 10, 2011. REUTERS/Muhammad Yamin (INDONESIA - Tags: CIVIL UNREST ENERGY EMPLOYMENT BUSINESS MARITIME)
Source: X02785

Mubadala Energy, the international energy company based in Abu Dhabi, has announced a significant gas discovery off the coast of the Indonesian island of Sumatra.

The company on May 13, revealed the discovery from the Tangkulo-1 Exploration well, located in South Andaman, approximately 65 kilometres offshore of North Sumatra.

Despite testing limitations, the well's estimated production capacity ranges between 80 million to 100 million standard cubic feet per day, along with over 2,000 barrels of condensate, according to Mubadala Energy.

Mansoor Mohammed Al Hamed, CEO of Mubadala Energy, while highlighting the potential impact of this discovery said “When added to our recent success at Layaran-1, this game-changing discovery promises to transform Indonesia’s and Southeast Asia’s energy landscape and demonstrates that South Andaman is one of the world’s most exciting energy plays.”

“By working with partners and harnessing our world-class technical capabilities, I am confident we can realise the full potential of this block,” he added.

This marks the second deep-water well operated by Mubadala Energy following last year’s major discovery at the Layaran-1 well, also situated in South Andaman, Indonesia.

One of Southeast Asia's largest economies, Indonesia holds significant natural gas reserves. As of 2021, the country reported natural gas reserves of 49.74 trillion cubic feet, although this marks a decline from 92.5 trillion cubic feet in 2002.

In 2024, Indonesia ranks 23rd globally in proven natural gas reserves, ahead of other Asian nations like India, Malaysia, and Vietnam.

You may be interested in

/
/
/
/
/
/
/