Mubadala Raises Manora Field Stake to 70%

Thursday, March 12, 2020

Mubadala Petroleum has increased its ownership share in the G1/48 block containing the Manora oil field in the Gulf of Thailand.

The company has, via its subsidiary MP G1, taken a 10 percent interest in the offshore block from Northern Gulf Petroleum. The terms of the transaction were not disclosed.

The news of the arrangement was shared by Tap Oi, the partner in the block, who said it has consented to the transfer of Northern Petroleum's Manora stake to Mubadala.

Upon finalization of the transfer, the interests Mubadala will own a 70% stake in the offshore blick, with Tap Oil holding the remaining 30%.

The Manora Oil Field was discovered in November 2009 and produced first oil in November 2014. At the end of 2019, Manora had produced 16.3 million barrels of oil gross from 14 wells averaging 5,342 bopd gross in 2019.

The field produced with an 80.3% water cut in 2019 and currently has five water injection wells to dispose of produced water and provide reservoir pressure support in the deeper reservoirs.

The Manora Oil Field is located in the 171.75 Km2 North Kra Production Area.

Categories: Energy Industry News Activity Production Asia

Related Stories

Petrovietnam Agrees First-Ever LNG Term Deal with Shell

India Seeks $30B from Reliance, BP Over Gas Shortfall at Offshore Fields

PV Drilling’s Jack-Up Rig Returns to Asia Ahead of April Drilling Ops

South Korean Firm Buys Into Indonesian Offshore Oil Block

Yinson Production Cuts First Steel for Vietnam-Bound FSO

EnQuest Set to Top 2025 Production Forecast on Southeast Asia Gains

TotalEnergies Sells Stake in Malaysia’s Block to Thailand’s PTTEP

Technip Energies Gets On Board Thailand’s First CCS Project

PTTEP Orders OneSubsea Systems for Two Deepwater Projects off Malaysia

US Pressure on India Could Propel Russia's Shadow Oil Exports

Current News

Vantris Energy Lands Petronas Job on Malaysia’s Offshore Fields

Murphy Oil Appraisal Well Boosts Resource Outlook at Field off Vietnam

Viridien Kicks Off Multi-Client Reimaging Program off Malaysia

Petrovietnam Agrees First-Ever LNG Term Deal with Shell

ADNOC Takes FID on SARB Deep Gas Project Offshore Abu Dhabi

Jereh Group Delivers Oil Separation Systems for Petrobras’ FPSO Units

Offshore Rig Outlook: As 2025 Challenges Fade, Path Ahead Brightens

Offshore Energy and Boosting the Energy Efficiency of Water Processes

Low Demand, High Supply Keeps Asia LNG Spot Prices Flat

Following Big Loss in 2025, Oil Steadies

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com