Mubadala Energy will within months announce a final investment decision for its Tangkulo development in the South Andaman gas block off Indonesia, an executive said on Thursday.
Adnan Bu Fateem, chief operating officer of Mubadala Energy, told participants at the Indonesia Petroleum Association conference the announcement will be made in a few months.
Abu Dhabi-based Mubadala Energy announced the gas discovery in 2024 at the Tangkulo-1 exploration well with the potential for more than 2 trillion cubic feet of gas-in-place.
Mubadala is targeting reaching first gas from the Tangkulo project in the fourth quarter of 2028, according to company data.
Also at South Andaman block, Mubadala discovered a potential for over 6 TCF of gas-in-place through the Layaran-1 exploration well.
(Reporting by Fransiska Nangoy; Editing by Martin Petty)