A joint venture between Abu Dhabi-based Mubadala Energy and UK-headquartered Harbour Energy has won the oil and gas exploration licence in the Central Andaman block, off Indonesia’s coast.

The venture – owned 60% by Harbour and 40% by Mubadala Energy – was awarded the contract by MIGAS, the Indonesian oil and gas regulator.

The license further strengthens Mubadala Energy’s growth strategy in the Andaman Sea.

In addition, the UAE company completed the South Andaman drilling campaign with the appraisal of the Layaran discovery.  

The exploration and appraisal campaign, which included Layaran-1, Tangkulo-1, Layaran-2 and Layaran-2ST1 in South Andaman, confirmed the multi-trillion cubic feet potential of the Andaman Sea basin. 

The joint venture is actively forming a strategy to develop these resources into production as quickly as possible, the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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