Mubadala Petroleum has accomplished the acquisition of further curiosity in its operated G1/48 Concession within the Gulf of Thailand, which incorporates the Manora subject.

Tap Oil, a associate within the challenge, stated on Tuesday that the
switch of Northern Gulf Petroleum’s 10 per cent shareholding within the G1/48
Manora block to the Mubadala Petroleum’s subsidiary and operator of the
concession Mubadala Petroleum G1 Thailand Limited was full.

To remind, Mubadala entered into the settlement to extend
its stake within the block again in March 2020. At the time, Tap consented to this
switch.

The switch was anticipated to turn out to be efficient upon the
execution of the related supplementary concession.

The related supplementary concession settlement which formalised
the switch was formally executed by all concessionaires on the 16 September
2020.

Tap Oil added on Tuesday that the supplementary concession was
executed by the Thai Minister of Energy. As a consequence, Mubadala Petroleum will
now maintain a 70 per cent stake within the block and stay the operator. Tap Energy
will maintain the remaining 30 per cent.

It is price reminding that Mubadala Petroleum determined to drill, full, and put in manufacturing three wells within the Manora subject again in mid-May of this 12 months.

The Valaris 115 jack-up drilling rig began the 2020
growth drilling marketing campaign on 15 May. The JV events additionally agreed on a workover
of the MN-15 properly to exchange an electrical submersible pump and workover of the
MNA-7 properly so as to add water disposal capability in the course of the drilling marketing campaign.

In June, Mubadala added one other growth properly to the Manora drilling marketing campaign, increasing it to 4 new growth wells. The choice was made following business analysis and technical evaluation together with reservoir modelling. The fourth properly – MNA-28 – was initially scheduled as a 2021 growth properly.

At the time Tap Oil stated that the choice to drill it now was
a results of optimistic preliminary outcomes of the primary three wells of the 2020
program.

The put up Mubadala completes Thai subject curiosity purchase appeared first on Offshore Energy.

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