Mubadala Petroleum announces Nong Yao development in Thailand approved

8/21/2013

Mubadala Petroleum announces Nong Yao development in Thailand approved

ABU DHABI -- Mubadala Petroleum, through its wholly owned affiliates, holds a 75 % interest in the G11/48 concession and is operator. The remaining 25 % interest is held by KrisEnergy.

The Nong Yao field was discovered in 2009. Its development follows on the heels of the Manora field project that was approved in July 2012. Nong Yao is located in the southern Gulf of Thailand 165 km offshore in water depth of about 75 m. The development comprises a Wellhead Processing Platform (WPP) and a minimum facility Wellhead Platform (WHP) with crude export via a Floating Storage and Offloading (FSO) vessel. The facilities will have production capacity of up to 15,000 bopd and 30,000 bfpd.

The initial development phase will consist of 23 development wells targeting the primary reservoirs. It is planned to commence production in the first half 2015 and peak rates are expected to reach 10,000 bopd within a few months of first oil.

Mubadala Petroleum expects the Nong Yao project to develop some 12.4 MMbbl of oil via a combination of artificial lift and waterflood technologies. Field life is projected at around seven years.

Contract awards for the platform construction and installation, and the supply of the dedicated FSO unit, are currently being finalized.

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