Investing in capabilities and expertise enhances Mubadala Energy's readiness to discover vast future resources.

Abu Dhabi - Mubadala Energy, the Abu Dhabi-based global energy company, announced significant progress in its plans to develop the Tankulo gas project, a key project within its portfolio in the strategic Andaman Sea location.

The project is witnessing significant progress in front-end engineering design ( FEED ) and long-term extension contracts ( LLI ), enabling it to advance ahead of schedule. The development plan ( POD ) is scheduled for release by the fourth quarter of 2025, the final investment decision ( FID ) by June 2026, and gas production is expected to commence in the fourth quarter of 2028.

Commenting on these developments, Mansour Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: “Our significant discoveries in the South Andaman region, estimated at trillions of cubic feet of natural gas, represent a strategic growth opportunity for Mubadala Energy, and our relentless efforts to accelerate the project’s development stem from its importance in enhancing Indonesia’s future energy security. At Mubadala Energy, we continue to execute our ambitious plans for sustainable growth, and our operations in Indonesia form a key pillar within our plans to expand our global portfolio.”

In the same context, Mubadala Energy’s gas marketing strategy is making tangible progress towards achieving a common goal of supporting Indonesia’s energy security by providing reliable and competitively priced domestic gas supplies, which contributes to reducing dependence on liquefied natural gas imports.

The Tankulo field was discovered in May 2024 within the South Andaman Production Sharing Contract area, approximately 65 kilometers off the coast of North Sumatra, Indonesia. The well was drilled to a total depth of 3,400 meters in water depths of around 1,200 meters, marking Mubadala Energy's second consecutive deepwater natural gas discovery, with more than 2 trillion cubic feet of gas in the field. This discovery comes just months after the giant Layaran well, containing more than 8 trillion cubic feet of natural gas, was discovered in the same South Andaman concession, which is operated by Mubadala Energy and in which it holds an 80% stake.

With its recent acquisition of the Central Andaman concession, Mubadala Energy now holds the largest net concession area in the region, reinforcing its position as a key player in developing Indonesia’s natural gas resources and increasing production to meet domestic energy needs and create opportunities for international export.

In addition to the significant momentum Mubadala Energy has gained in major development projects, the company recently hired over 50 specialists in areas including deepwater exploration, development, and project management to support its expansion in Indonesia. The opening of its new, state-of-the-art, digitally equipped office in Jakarta has further solidified the company's presence and accelerated its growth in the Indonesian market.

These developments are accompanied by extensive community investment programs, which focus on training national talent and supporting educational and environmental initiatives that contribute to the development of local communities and building a sustainable future.

About Mubadala Energy

Mubadala Energy is a leading global energy company with a diversified portfolio of operating and non-operating assets spanning 11 countries, with a primary geographic focus in the Middle East and North Africa, the United States, Russia, and Southeast Asia .

Mubadala Energy is a wholly owned subsidiary of Mubadala Investment Company, which is owned by the Abu Dhabi government. Natural gas comprises approximately 70% of the company's portfolio, with production of around 450,000 barrels of oil equivalent per day.

In line with Mubadala Energy’s commitment to playing an active role in supporting the energy transition, the company continues to expand its business across the natural gas and liquefied natural gas value chain, while also exploring new opportunities in future energy sectors .

For more information, please visit the website: www.mubadalaenergy.com

For more information, please contact:

Candle Joy

Contact Department

farah.alshamaa@mubadalaenergy.com​

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