(MENAFN - Khaleej Times) Mubadala Petroleum recently announced that the platform Engineering, Procurement, Construction, Installation & Commissioning (EPCIC) contract for the Nong Yao oil field development in Block G11/48 in the Gulf of Thailand has been awarded to Nippon Steel and Sumikin Engineering, or NSSE.
Work has commenced at a fabrication yard near Bangkok and completion is anticipated in early 2015. The value of the contract is not being disclosed. The Nong Yao oil field development was sanctioned by Mubadala Petroleum and its partner KrisEnergy in August 2013. The development consists of a Wellhead Processing platform and Wellhead Platform with interconnecting pipelines to a Floating Storage and Offloading vessel and will in the initial phase involve 23 development wells. The facilities will be capable of producing up to 15,000 bopd. Production is expected to commence in mid-2015.
Mubadala Petroleum is an international, upstream oil and gas exploration and production company. Established as a wholly-owned subsidiary of Mubadala Development Company in June 2012, the company incorporates and builds on the success of Mubadala's existing investments in the sector. The company manages assets and operations spanning 12 countries with a primary geographic focus on the Middle East, Africa, Central and Southeast Asia. Working interest production in 2012 averaged approximately 378,000 boepd.