Mubadala Petroleum Awards EPCIC Contract to Nippon Steel and Sumikin Engineering

Mubadala Petroleum, a wholly owned subsidiary of Mubadala Development Company, announced that it has awarded a platform engineering, procurement, construction, installation and commissioning (EPCIC) contract to Nippon Steel and Sumikin Engineering Co. Ltd. (NSSE). The EPCIC contract covers the Nong Yao oil field development in Block G11/48 in the Gulf of Thailand.

In August 2013, the Sovereign Wealth Fund Institute reported that Mubadala Petroleum had decided to develop Block G11/48, but was still in negotiations regarding the contract for platform construction. The location of the concession is 165 km offshore in depths of 75 meters.

When questioned on the oil production from the facility, a spokesperson from Mubadala responded immediately via email stating, “peak rates are expected to reach approximately 10,000 barrels of oil per day (bopd) within a few months of first oil.” But the development which, “consists of a Wellhead Processing platform (WPP) and Wellhead Platform (WHP) with interconnecting pipelines to a Floating Storage and Offloading vessel (FSO) will be capable of producing up to 15,000 bopd.

Mubadala Petroleum, the operator of the concession, holds a joint interest in the concession with KrisEnergy Ltd. KrisEnergy claims a 25% working interest, with the rest being held by Mubadala Petroleum.

“We are pleased to be making headway,” said Chris Gibson-Robinson, KrisEnergy’s Director of Exploration & Production of the Nong Yao development. “We declared [sic] final investment decision in August last year and preliminary fabrication work commenced in November.”

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