Mubadala unit wins deal in Malaysia

14 February 2010

MDC Oil, a subsidiary of Abu Dhabi's Mubadala Development and Malaysia's Petronas Carigali, has been awarded a production sharing contract for an oil block by the Malaysian government, Gulf News has reported. MDC will take a 75% participating interest and operate the block, which measures 5,786 square kilometres and holds a number of gas fields such as M5, Biji Sawi and Daun Kari. According to Petronas, the production sharing contract includes commitments to acquire and process seismic data, and drill four wildcat wells to a minimum aggregate depth of 1,582 metres.

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