Mubadala invests USD500m in Ruby gas field

22 Jun 2011

(MENAFN) Mubadala Oil & gas’ regional vice president, Barry O’Donnell, said that the company’s unit, Pearl Energy, would invest USD500 million in developing Ruby gas field in Indonesia, reported Emirates 24/7.

O’Donnell added that the project would be the company’s first investment in Indonesia and it would launch it with Pearl Oil, which is a wholly owned subsidiary of the company’s Pearl Energy and would have 70 percent stake in the project, whereas Total E & P Sebuku and INPEX South Makassar Ltd., Pearl Oil’s partners would each have a 15 percent stake.

He also said that the offshore project would include the drilling of four wells and related facilities, moreover, gas would be transported to shore via a 14-inch, 312 km pipeline to a receiving terminal.

It is worth noting that PT Pupuk Kalimantan Timur is the buyer of the gas which operates a fertilizer factory nearby, and supply from the project is expected to begin in the latter part of 2013.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more