Will Mubadala Follow Chevron and Sell ErawanMubadala just made another massive gas discovery in Sarawak where it is in the first few months of firing up its massive Pegaga gas field.
Mubadala envisages an output of 500 million cubic feet per day of gas and 9500 barrels per day of condensate from Pegaga, which is located in water depths of 108 metres on Block SK320...the same block as the new discovery.
Chevron just sold its share of the Erawan gas field which is now in its 42 nd year of production .
Mubadala is under the sane insane Green iniatives of carbon zero as Chevron and its massive new gas assets in Sarawak close to LNG conversion facilities which are still in their embryonic stages offer much greater and longer upside.
This recent and very cosy deal between Valeura and Mubadala which was largely driven by the known quality of the SPV personel which Valeura acquired lock stock and barrel tells me that Valeura will be first in line if Mubby decides that Erawan is no longer its core asset..