Mubadala Energy Reports Further Positive Momentum in its Southeast Asia portfolio with another New Gas Discovery in Malaysia

• Discovery follows successful commencement of Pegaga flagship gas project in Malaysia

Abu Dhabi, United Arab Emirates, 20 September 2022: Mubadala Energy, the Abu Dhabi headquartered international energy company, has confirmed the discovery of a good quality gas reservoir penetrated by the Cengkih-1 exploration well in Block SK320, off the coast of Sarawak province, offshore Malaysia. Preliminary analysis shows a significant gas column of more than 110 metres within the pinnacle carbonate reef reservoir.

Mansoor Mohamed Al Hamed, CEO Mubadala Energy, commented: “This discovery further cements our position in Malaysia as a reliable and trusted operator with deep technical capabilities. Gas demand in Southeast Asia continues to grow and we look forward to helping meet those energy needs, in line with our strategy to play an active role in the energy transition.”

The Cengkih-1 exploration well is located nearby the Pegaga field, one of the fields under within the SK320 Block, which recently marked the successful production of commercial gas. The Pegaga field recorded the discovery of 1 Trillion Cubic Feet of additional gas initial in place, following the post-drill results which confirmed a larger and better quality reservoir.

Building on Mubadala Energy’s strong position in Malaysia, these results also bolster the company’s strategy to expand its position in natural gas as a key bridge fuel in the energy transition.

Mubadala Energy is the Operator of Block SK320, with 55% per cent participating interest in the Production Sharing Contract. The remaining 45% is held by PETRONAS Carigali Sdn Bhd and Sarawak Shell Berhad. Since entering Malaysia in 2010, Mubadala Energy has made 6 gas discoveries displaying a success ratio of 75%, a significantly higher number than the industry average.