Abu Dhabi's Mubadala To Develop $246M Thai Oil Field

Law360, New York (July 23, 2012, 2:31 PM EDT) -- The oil exploration and production unit of Mubadala Development Corp., Abu Dhabi’s state-owned investment company, has obtained approval to develop a $246 million oil field in the Gulf of Thailand, the company said Monday.

Mubadala Petroleum holds a 60 percent interest in the Manora development, which is expected to reach peak production of 15,000 barrels per day within a few months of its opening in 2014. Mubadala will serve as operator of the project, which also has noncontrolling investments from Indonesia's Tap Energy Pty Ltd. and...
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