UAE's Mubadala Petroleum Says 2nd Thai Oilfield Starts Production

Reuters

ABU DHABI, Nov 11 (Reuters) – Mubadala Petroleum, a unit of Abu Dhabi state investment fund Mubadala, said on Tuesday it has started production at a second oilfield in Thailand, which it operates with partners.

Output is expected to reach a peak rate of around 15,000 barrels of oil per day (bopd) as the wells are completed at the Manora oil field, the company said in a statement, without giving a timeline.

Mubadala Petroleum, operates the Manora oil field in the northern Gulf of Thailand in partnership with Tap Energy (Thailand) Pty Ltd and Northern Gulf Petroleum Pte Ltd.

Up to 10 production wells and five injection wells are planned in the oil field where the investment is $300 million, the company said.

Mubadala also operates the Jasmine oil field which has produced over 50 million barrels of oil so far.

Mubadala is also in the process of developing the Nong Yao oil field with first output expected by mid-2015, by which time the company's oil production in Thailand will have more than doubled from current rates, it said.

(Reporting by Stanley Carvalho, editing by Susan Fenton)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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