Mubadala gets Indonesia nod for Ruby Gas field

Abu Dhabi's Mubadala said on Tuesday its energy unit plans to develop a gas field in Indonesia with its partners, investing $500 million, its first project in the south Asian country.

The Ruby gas field won approval from Indonesia’s upstream oil and gas agency, Mubadala said in a statement.

The field partners are Pearl Oil, a wholly-owned subsidiary of Mubadala's Pearl Energy, which will have 70 per cent stake in Ruby, Total E & P Sebuku and INPEX South Makassar Ltd, with both 15 per cent each.

The offshore development will comprise drilling four wells and related facilities and gas will be transported to shore via a 14-inch, 312 km pipeline to a receiving terminal.

The buyer of the gas is PT Pupuk Kalimantan Timur which operates a fertilizer plant nearby. Supply is expected to start in the latter part of 2013.

“Ruby is our first full-field, operated development project in Indonesia and as such it is an important project for us to have brought to the point of sanction,” Barry O'Donnell, regional vice president, Mubadala Oil & gas and president, Pearl Energy said in the statement.
 

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