“This development offers material commercial opportunities and adds momentum to our strategic growth story. This is not only a significant development for Mubadala Energy but a huge milestone for Indonesia’s and Southeast Asia’s energy security,” he said.
UK-listed Harbour Energy (LON:HBR) has announced initial success at its play-opening deepwater Timpan-1 exploration well offshore Indonesia in the North Sumatra basin. Significantly, the initial result bodes well for the frontier area and could open up more petroleum plays, which are thought to be gas prone.
Tensions are rising in the resource-rich South China Sea following a recent standoff between Kuala Lumpur and Beijing over Malaysian oil and gas exploration.
