The drilling of the Timpan-1 in North Sumatra, Indonesia, has been completed, with the discovery of a 390-foot gas column in high net to gross fine-grained sandstone reservoir, the energy company stated in a release received here on Thursday.
The exploration well, Timpan-1, is operated by Harbour Energy Plc that conducted the drilling campaign and holds a 40-percent stake in the field.
The well discovered a good gas quality column, with the good test reaching a rate of 27 million standard cubic feet of gas per day (mmscfd/d) and 1,884 barrels per day (bbl/d) of condensate.
"Such findings are especially important because they are a strong signal that the adjacent Andaman I and South Andaman fields, in which Mubadala Petroleum holds an 80-percent participating interest, will also include material underexplored resources," the company noted in a statement.
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As the largest net acreage holder in the area, having secured the core of the underexplored proven basin in the Andaman region, the positive outcome from the Timpan-1 discovery will support de-risking multi trillion cubic feet (Tcf) prospects and provide a foundation for future organic growth in line with the company’s gas-biased strategy, according to Mubadala.
"Our long-term strategy in Indonesia not only demonstrates our commitment to the market but also underlines the strength of our partnerships," CEO of Mubadala Petroleum Mansoor Mohamed Al Hamed stated in connection with the discovery.
"With demand for gas increasing across the Southeast Asia region, this discovery not only supports our gas-biased strategy but also has the potential to help meet energy demand in this dynamic and fast-growing market," he stated.
He remarked that with Mubadala Petroleum’s operated Ruby gas field in Indonesia having reached cumulative gas production of over 250 billion cubic feet, it is now in a late-life stage of production.
Hence, these discoveries have the potential to deliver significant development opportunities for our existing business in the longer term, Mansoor noted.
Mubadala Petroleum is a leading international energy company that is a wholly-owned subsidiary of Mubadala Investment Company owned by the Government of Abu Dhabi.
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Reporter: Yuni Arisandy Sinaga
Editor: Suharto
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