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Mubadala Petroleum, which has been renamed Mubadala Energy, has a gas-weighted portfolio with a strategic focus in areas such as liquefied natural gas, while exploring new energy areas such as blue hydrogen and carbon capture.
The Abu Dhabi-based international energy company’s strategy also emphasizes decarbonizing its operations while driving innovation and technology across all operations, according to a WAM report.
Musabbeh Al Kaabi, CEO of Mubadala Investment Company UAE Investments and Chairman of Mubadala Energy, commented: “Mubadala Energy has earned its place as a major player in the international energy arena. This new brand identity accurately reflects the business’s next Growth is aligned with the energy transition through a natural gas-biased portfolio and a greater focus on a more sustainable energy sector.”
key milestones
Mansoor Mohamed Al Hamed, CEO of Mubadala Energy, said in an interview with WAM: “After a decade of growth, the company has reached a key milestone that requires the rollout of a strategy and brand identity based on recent developments. Today is the time to adopt a bold new brand to demonstrate our focus on the energy transition.
“We are building a proven track record with significant growth through an expanding natural gas portfolio, and with our deep capabilities and strong partnerships around the world, we are well-positioned to launch us as Mubadala A new chapter for energy companies.”
energy transition
Given the growing demand for natural gas, the energy transition is a key opportunity for the company. He added that it accounts for 70% of the company’s production and helps meet growing demand.
“Based on the company’s extensive experience in the gas sector, which is a key source for a low-carbon future, we believe we can expand the gas value chain and explore new energy sectors,” said Al Hamed.
new opportunities
He said the company is exploring new opportunities to enhance its position in strategic markets by working closely with partners, referring to its Pegaga field in Malaysia, which recently started its first commercial gas production, Shortly after reaching the production milestone, producing 500 mmscf (million standard cubic feet) and 16,000 barrels of condensate per day.
The company’s total assets have increased by 55%, while production has increased by 32%, he said. This year, the company managed to reach 500,000 barrels of oil equivalent per day for the first time in its history, a 22% increase in production compared to 2021, he noted.
11 markets
In its tenth year of operation, the company has transformed and continues to grow, now spanning 11 markets and employing more than 500 people.
In 2017, Mubadala Energy shifted its strategy to use natural gas as a key bridging fuel for the energy transition. This strategic pivot has enabled the company to realize key projects such as the acquisition of a 10% participating interest in the Zohr gas field in Egypt within the Shorouk concession, and the recent investment in the acquisition of a 22% interest in the Tamar gas field offshore Israel.
As a long-term and responsible partner, the company remains committed to making a positive impact in the communities in which it operates, including: managing its shareholders’ interests in Dolphin Energy, the underlying asset of the Mubadala Investment Company’s portfolio (Mubadala); Its operations in Southeast Asia include Indonesia’s Ruby gas field with a recent cumulative gas production of more than 250 billion cubic feet, Thailand’s Jasmine gas field with a cumulative gas production of more than 85 million barrels, and the Nong Yao and Manora gas fields owned by both. Cumulative production exceeds 20 million barrels — arab trade news agency
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