Mubadala signs PSC in Thailand

DUBAI:

Abu Dhabi’s Mubadala Petroleum said it has signed the production sharing contract(PSC) together with its partner PTTEP Energy Development Co for an offshore block containing the Erawan producing gas field in Thailand.

The current block G1/61 concession will expire in April 2022 and PTTEP Energy Development Co, a subsidiary of PTT Exploration and Production PCL, will then assume operational control.

The Thai firm will hold a 60 per cent participating interest and Mubadala Petroleum will hold the balance in the production sharing contract for the block, Mubadala Petroleum said in a statement.

UAE to host Libyan meeting

TUNIS-TRIPOLI:

The United Arab Emirates is bringing together players in Libya’s conflict and the state oil firm to try to reopen the El Sharara oilfield, the North African country’s biggest, diplomats and other sources said.

The UAE is the biggest backer of Khalifa Haftar, a key figure and commander of the Libyan National Army (LNA) force, which this month took control of two oilfields in Libya’s south, El Sharara and the nearby El Feel facility. The LNA has called on state oil firm NOC to reopen the 315,000 barrel-a-day El Sharara field which has been closed since state guards and tribesmen seized it in December to make financial demands. But NOC Chairman Mustafa Sanalla rejected the LNA’s demands, saying El Sharara was not secure.