Mubadala Petroleum has set a new production milestone of 500,000 boe/d, 22% up on its output in 2021.
Courtesy Mubadala Petroleum
As of May this year, the Mubadala-operated Pegaga Field has achieved gas production of 500 MMscf/d and 16,000 bbl/d of condensate. Mubadala took the project from discovery to development and into production with the support of Petronas, its partners and contractors following a successful exploration drilling campaign in 2013-14 and final investment decision in 2018.
Offshore staff
ABU DHABI, UAE — Mubadala Petroleum has set a new production milestone of 500,000 boe/d, 22% up on its output in 2021.
The new landmark followed various developments over the past 12 months, including the company’s acquisition of a 22% interest in the producing Tamar Field offshore Israel from Delek Drilling (now NewMed Energy).
Last month, production from the Mubadala-operated Pegaga Field offshore Malaysia, which came onstream in March, delivered 500 MMcf/d of gas and 16,000 bbl/d of condensate.
The gas is exported to the Petronas LNG complex in Bintulu, Sarawak.
Gas now comprises nearly 70% of the company’s portfolio.
