Mubadala Energy, the oil and gas arm of Abu Dhabi's Mubadala Investment Company, has announced new gas discoveries in Malaysian waters as it seeks to expand its position in the energy transition. The company discovered a significant gas column of more than 110 meters at the Cengkih-1 exploration well in Block SK320 off the coast of Sarawak.

Mansoor Al Hamed, CEO of Mubadala Energy, said this discovery further strengthens our position as a reliable and trusted operator in Malaysia with deep technical capabilities. Natural 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.

Demand for natural gas has surged in recent years as energy-consuming nations work to reduce emissions to limit global warming and protect the environment. In a February report, Shell said global LNG trade in 2021 rose 6% to 380 million tonnes. In 2021, China and South Korea, the world's second-largest economies, will lead the growth in LNG demand.

Mubadala Energy has made six natural gas discoveries since entering Malaysia in 2010. The latest discovery of the Cengkih-1 exploration well follows the successful production of commercial gas from the Pegaga field within the same block. Pegaga recorded an additional discovery of an additional 1 trillion cubic feet of gas after drilling results confirmed the existence of larger, better-quality reservoirs, the company said.

Mubadala Energy has assets and operations in 11 countries, mainly in the Middle East and North Africa, Russia and Southeast Asia. It first reached the production milestone of 500,000 barrels of oil equivalent per day in June, a 22% increase from 2021 production. Keywords: engineering news, overseas news

The company is continuing to expand its business. In 2021, it acquired a 22% stake in the Tamar field in the Eastern Mediterranean from Israel's Delek Drilling, which was renamed New Med Energy. The deal is worth more than $1 billion.Editor/XingWentao