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Mubadala Petroleum

Corporate Profile
Our Vision
Through our people, partnerships and
performance, and in the communities in which
we operate, our focus is to be the leading eastern
hemisphere upstream oil and gas business.

Our Values
We believe in:

Purpose
We have a clear vision and shared purpose
We are driven by big ideas
We plan carefully
We believe in creative thinking

Passion
We inspire others with our thirst for excellence
We care intensely about the success of Mubadala Petroleum
We celebrate wins
We are tenacious

Performance
We achieve
We measure
We review
We learn

Mubadala Petroleum Corporate Profile 08/2012


Mubadala Petroleum
Order of Content

01 Our Story

03 Executive Message

05 Our Team

09 Timeline

11 Our Business

23 HSSE

25 Working with Communities


Mubadala Petroleum
Our Story
01

Our Story
Mubadala Petroleum is a young and ambitious
international, upstream oil and gas exploration
and production company. We were established
as a wholly-owned subsidiary of Mubadala
Development Company in 2012, incorporating
and building on the success of Mubadalas
existing investments in the sector.

The transformation to a subsidiary reflects the scale, operational maturity and diversity
of the portfolio we manage, which includes assets and operations at all stages of the
upstream value chain located across the eastern hemisphere. We continue to grow our
capabilities, combining significant operational experience with strong technical expertise.
These qualities build on our strong commercial acumen and the partnership-driven
approach that have been central to our business from the outset.

We are participants in a number of now function as a fully integrated


  major projects including the world organization deploying our resources
class Dolphin Energy project, which where they are required and can
At the end of 2011, our is central to meeting the energy add most value.
working interest production needs of the UAE; enhanced oil
was approximately recovery projects in Oman and Lasting partnerships, built with

400,000
Bahrain; and high impact exploration host governments, national and
in Kazakhstan, Tanzania and international oil and gas companies,
Southeast Asia. and the communities in which we
barrels of oil equivalent per operate, are central to our success.
day and we are now poised In Southeast Asia, where we We have become an increasingly
to grow that still further. continue to upgrade the portfolio active partner in all of our projects,
inherited through the acquisition of including those where we are not
Pearl Energy in 2008, the company the operator, and by taking a
acts as operator across an extensive long-term view, we maximize
range of assets located in Thailand, the value of our investments
Indonesia, Malaysia and Vietnam. to the benefit of our business, our
In the Gulf of Thailand, we have shareholder, our business partners
developed a strong track record and our stakeholders.
of safe, efficient and cost-effective
production operations.

We have utilized the operating


experience from Southeast Asia
across our entire business and
02

Our Parent Company


Mubadala Petroleum is a wholly owned subsidiary Mubadala is deploying capital in those sectors and
of Mubadala Development Company (Mubadala). geographies that hold exciting potential, and promise
tangible returns for its partners and stakeholders.
Headquartered in Abu Dhabi, Mubadala is at the forefront
of Abu Dhabis growth, diversification and emergence. The company, which holds shares in a number of
It is an investment and development company with leading multinationals such as GE, EBX Group and
a portfolio valued at more than US$46 billion. AMD, has one of the best credit ratings in the Middle
East and is recognized for its ongoing commitment
Owned by the Government of Abu Dhabi, and with a to the highest levels of transparency and adherence
portfolio that spans a diverse range of business sectors, to robust corporate governance practices.

Mubadala Petroleum, manages activities spanning the eastern hemisphere.

Kazakhstan

Libya

Bahrain
Qatar
Oman
United Arab Emirates
Abu Dhabi (Headquarters)

Thailand
Vietnam

Malaysia
Singapore
(Asia Headquarters)

Tanzania
Indonesia
Mubadala Petroleum
Executive Message
03

Executive Message

Maurizio La Noce
Chief Executive Officer

The launch of Mubadala Petroleum marked the beginning of a new chapter in the development
of Mubadalas oil and gas business.

We have enjoyed an extraordinary story so far, from our beginnings as the catalyst for the
Dolphin project, through the incorporation of Pearl Energy into our organization, and now
to the new fully-fledged exploration and production business we have become.

Our challenge now is to build on that legacy, and deliver In Bahrain and Oman respectively, Tatweer gross oil
our aspiration to become the leading eastern hemisphere production is well above the baseline targets established
exploration and production company, while maintaining at the time of contract award, while the Mukhaizna oil
the very distinctive position we hold in the market field has implemented an extensive steam flood to
as a truly international, nationally-owned oil and grow oil production to around 120,000 barrels per day.
gas company.
Active progress is being made with a number of
We are building from a strong base. Our working development projects. In Indonesia, we are managing
interest production reached more than 140 million the US$500 million development of the Ruby gas field
barrels of oil equivalent per annum in 2011. and in the Gulf of Thailand we expect to bring forward
another operated development, the Manora field,
Most importantly, both our safety record and for sanction during 2012.
environmental performance have been excellent
while achieving our business goals, which are Key exploration and appraisal activity is in progress
being driven through our balanced portfolio of in Kazakhstan, Oman, Vietnam, Malaysia and Thailand.
production, development and exploration assets. And we will continue to seek value adding opportunities
to fulfil our ambitious growth plans.
In December 2011, the Dolphin asset recorded cumulative
production of three trillion cubic feet of gas, while in
Southeast Asia, the Jasmine field continues to exceed
annual production targets, and has achieved its
40 millionth barrel of cumulative crude oil production.
04



Mubadala Petroleum is active in Nearly 40% of Mubadala Petroleums
workforce in Abu Dhabi are Emiratis.

12 countries and employs over


In Southeast Asia over

470 employees.
80%
of our employees are local nationals.

At the very heart of our success are three As we go about our activities, wherever in the world
unique factors. they may be, we adhere strictly to our corporate code
of conduct and policies which promote responsibility
 First is the nature and strength of our partnerships, and accountability. These represent an integral
be they with host governments, international and component of our efforts to develop and maintain the
national oil company partners or the communities highest standards of corporate governance and integrity.
in which we operate. Partnership will remain
a cornerstone of our business as we establish In focusing on our strengths and embracing both the
Mubadala Petroleum. traditional and innovative solutions that have brought
us success, Mubadala Petroleum remains committed
Second is the strong support we receive from our to delivering exceptional value from the assets and
owners, Mubadala Development Company and partnerships in which we have invested.
its sole shareholder, the Government of Abu Dhabi,
which brings not just a solid financial foundation but
also strong government-to-government relationships
which are so important in a strategic sector
such as oil and gas.

Third is our people; we have an incredible blend


of experienced industry professionals working
alongside talented national staff. While diverse
in terms of nationality and background, all share
a common purpose, passion and performance
culture, and a belief in delivering our shared goals.
We continue to build and develop our team.
Mubadala Petroleum
Our Team
05

Our Team

The Mubadala Petroleum team is incredibly


diverse, with employees drawn from over 30
different countries who have a wide variety
experience in national, independent and
international oil and gas companies.

Our business and operations are driven by a core of industry-recognized leaders and
professionals whose reputation is built on their expertise and achievements in the global
E&P sector. For them, Mubadala Petroleum is a place where they can apply their skills
and innovative spirit to pursue new challenges and approaches, and provide leadership
to the next generation of industry leaders.

A critical success factor for our business is the The executive leadership team of Mubadala Petroleum
development of the national workforce in all our possesses extensive international experience across
locations. We have a cadre of talented Emiratis a wide range of technical and commercial areas,
who have grown professionally in the oil and gas guiding the business to sustainable growth and
industry of Abu Dhabi and who are now able providing superior returns for our stakeholders.
to expand their horizons and take their skills
to a new level on the international stage.

And in each location where we operate, from


Abu Dhabi to Vietnam, we are developing and
mentoring promising early-career professionals,
giving them responsibility and an opportunity to
contribute and influence outcomes immediately.
06

Maurizio La Noce Suhail Mohamed Al Mazrouei


Chief Executive Officer Deputy Chief Executive Officer & Executive Vice President

Maurizio is CEO of Mubadala Petroleum, having previously Suhail is Deputy Chief Executive Officer and
headed up Mubadalas Energy and Oil & Gas units. Executive Vice President of Mubadala Petroleum,
Since joining the Mubadala organization, he has realized and has primary responsibility for the companys
major accomplishments across multiple industries, most new business development activities.
notably the development of Masdar, the Abu Dhabi
Future Energy Company (ADFEC), the development He has a diversified technical and management
of the US$7 billion Emirates Aluminium smelter project background gained while leading the production
in Abu Dhabi and the ground-breaking Dolphin Project. and facilities engineering for five operating companies
of the Abu Dhabi National Oil Company (ADNOC).
Before joining Mubadala, Maurizio held several He managed and coordinated assets producing
high-responsibility commercial and leadership more than one million barrels of oil per day. Suhail
positions with Atlantic Richfield (ARCO) and Enron also worked on international projects in Nigeria,
International in Milan, London, Dallas and the the North Sea, Brunei and The Netherlands while
United Arab Emirates. on secondment to Shell.

Maurizio also represents Mubadalas interests on the He is a member of the Supreme Petroleum Councils
boards of a number of energy and industrial enterprises. Advisory Committee and also represents Mubadala
He holds a degree in Industrial Electronics from in a number of key joint ventures including Dolphin
A. Beltrami in Italy. He also attended the College Energy and Tatweer Petroleum. Suhail holds
of Petroleum Studies in Oxford, UK. a Bachelor of Science in Petroleum Engineering
from Tulsa University in the United States.
Mubadala Petroleum
Our Team
07

Our Team Continued

Steven Peacock David Douglas


Chief Operating Officer Chief Financial Officer

Steve has 34 years experience in the oil and gas industry. David joined Mubadala in February 2009, bringing with
He joined Mubadalas oil and gas unit in 2009 as COO, him over 30 years of energy industry experience, and
accountable for the operation and delivery of the rapidly is responsible for finance and corporate support
expanding portfolio of exploration and production assets services. He spent the first 22 years of his career
of Mubadala Petroleum, as well as technical support in the energy sector with ARCO, beginning in engineering
to new business development. before taking increasingly senior and international roles
in planning, business analysis, finance and general
He was previously with BP, where he held a variety management, moving to the Middle East in 1996.
of technical, functional and regional leadership roles,
recently spanning Exploration in the Deepwater Gulf Prior to joining Mubadala, David was CEO of Oman
of Mexico, Upstream IT, Midstream business in the Oil Company (OOC) and CEO of PFC Energy, Bahrain.
North Sea, and Regional VP for Mid East and
Southeast Asia. David holds a degree in Petroleum Engineering from
the University of Texas and an MBA from the
Steve holds a BA in Natural Sciences from Cambridge University of California.
University in the UK, and completed a Management
Development Program at Harvard Business
School in 1997.
08

Ahmed Jasem Al Shamsi Kate OLoughlin


Vice President, Human Resources Head of Legal

Ahmed joined Mubadala in January 2010 and Kate joined Mubadala in 2011 and was initially based
has primary responsibility for leading the global in Singapore where she led the legal team supporting
Human Resources function and accountability our Southeast Asian assets. Kate relocated to our
for creating and implementing HR strategies to Abu Dhabi headquarters in 2012 to assume responsibility
support Mubadala Petroleums expanding business. for the companys legal affairs and operations worldwide.
Central to this is the delivery of the companys corporate
He has 13 years of diverse experience in the HR governance and compliance programs.
field gained with local and international companies,
supporting established operations as well as startup Before joining Mubadala, Kate held a senior legal role
enterprises, where he has been directly involved in with BG Group in Singapore and prior to that spent
setting up HR strategies, policies and frameworks. almost a decade in private practice advising international
petroleum companies and government agencies
Ahmed started his career with Abu Dhabi Water on a broad range of transactions related to the
& Electricity Authority in recruitment and progressed petroleum industry across a number of jurisdictions.
to become the head of the Human Resources
Department. After that, he worked for BP as Regional Kate is a member of the Association of International
HR Manager for the companys downstream business Petroleum Negotiators and holds a Bachelor
in Middle East. Immediately before joining Mubadala, of Law from the University of Melbourne.
he was Human Resources Director of Tatweer, a
conglomerate and part of the Dubai Holding Group.

Ahmed holds a masters degree in Human Resources


Management from Webster University and a bachelor
degree in MIS from the University of South Carolina
in the United States.
Mubadala Petroleum
Timeline
09

Timeline

2002 2003 2004 2005 2006 2007

May October April June July

The first oil is The first gas from


Dolphin Energy Heads of Agreement Mubadala Energy
produced from Qatar begins flowing
is incorporated signed with ADWEC & Industry Unit
the Jasmine oil through the Dolphin
with Mubadala for supply of first is founded
field in Thailand export pipeline
as a 51 percent Dolphin pipeline gas
across the
shareholder
Arabian Gulf
July

Production Sharing
Contract signed for
Block 53 in Oman
containing the
Mukhaizna oil field
10

2008 2009 2010 2011 2012

January April February June June

Dolphin Energy project Development and Mubadala enters The development of Mubadala Petroleum
gas flow reaches Production Sharing Malaysia with the Ruby gas field in established
2 billion standard Agreement signed the signing of a Indonesia is approved
cubic feet per day for redevelopment Production Sharing
of the Bahrain field Contract for SK320 December
May with Petronas
June Carigali as partner

April
The 40 millionth barrel
Mubadala acquires of oil from Jasmine oil
Pearl Energy with Activities expand field is produced
operated exploration, into Central Asia
development and to explore the highly Operations in Mubadala takes
production assets prospective N Block Thailand receive ISO 20 percent interests
in Southeast Asia in Kazakhstan 14001 and OSHAS in Block 7, Tanzania
18001 certification and in PM324
in Malaysia

August

Production
commences at the
Ban Yen field adjacent
to the Jasmine field
in Thailand
Mubadala Petroleum
Our Business
11

Our Business

Mubadala Petroleum is a single global organization, comprising business units


responsible for executing activities and operations across the 12 countries in which
we are active, supported by central Exploration, New Business Development,
technical and commercial teams.

The assets we manage cover exploration, appraisal, Positive Partnerships


development and production operations, with Much of our success has been built on strong
a primary geographic focus on the Middle East, partnerships; as a commercially-driven business
Africa and Central and Southeast Asia. we appreciate the needs and strengths of each
partner in any particular project.
Through acquisitions, partnerships and the winning
of new exploration licenses, we are continuing to Our expertise covers all aspects of exploration and
expand our asset base while maintaining a clear production, including operations, and we are able
geographical focus and discipline in relation to to mobilize resources quickly whenever and wherever
the nature of the opportunities we pursue. required. Our key role in many projects is that of enabler;
with the support of the Abu Dhabi Government, we are
able to act at high levels, creating further opportunities
for ourselves and our partners.
12

Dolphin Energy
Production

Helping to meet growing energy needs by supplying the United Arab Emirates and
Oman with gas from Qatars giant offshore North Field, the US$4.8 billion Dolphin Energy
gas project is a strategic asset of the UAE and so sits at the very heart of Mubadala
and Mubadala Petroleum.

When the first gas began flowing through the Dolphin Through Dolphin Energy, and in co-operation with
pipeline across the Arabian Gulf in July 2007, it marked our partners, we will continue to manage the operation
a hugely significant moment: the fruits of the first of this strategic project, to ensure it delivers essential
cross-border natural gas network between Gulf gas safely, cost-effectively and securely. Mubadala
Cooperation Council countries and one of the largest is the majority owner of Abu Dhabi-based Dolphin
energy investments to be undertaken in the Gulf region. Energy, with a 51 percent shareholding. The remaining
Just six months later, two billion standard cubic feet 49 percent is held equally between Total of France and
per day was being delivered through the network. Occidental Petroleum Corporation of the United States.

For more information, visit the


Dolphin Energy website: dolphinenergy.com

Production Platform
Processing Plant
Existing Pipelines
Dolphin Constructed
Pipelines

Ras Laffan

Qatar Sharjah
Dubai Fujairah
Doha
Jebel Ali

Taweelah

Abu Dhabi
Oman
Maqta Al Ain

0 25 50 75 100km
Saudi Arabia United Arab Emirates
Mubadala Petroleum
Our Business
13

Bahrain
Production & Development

The first oil field in the Arabian Gulf to enter production, the Bahrain Field has been in
operation for eight decades. Extending under most of the island of Bahrain production
at the field peaked at 75,000 bopd in the 1970s but declined thereafter to approximately
26,000 bopd in 2009.

To arrest this trend and raise production once more, More than 150 new wells are being drilled every year
we signed a Development and Production Sharing by four modern and highly mobile drilling rigs, while
Agreement (DPSA) in April 2009 with our partners the existing 750 wells are being rehabilitated using
National Oil and Gas Authority of Bahrain (NOGA), a fleet of six workover units. As a result, oil production
Occidental Petroleum and NOGAHOLDING and reached approximately 43,000 bopd by the end
began an intensive program to comprehensively of 2011. Further drilling in 2012 should increase
redevelop the field with the aim of raising oil output. production to around 50,000 bopd.

Since Tatweer Petroleum, which was formed by The rapid installation of new equipment has raised
the partners to serve as operator for the project, associated gas compression and treatment capacity
took over operations on December 1 2009, significant to more then 130 million standard cubic feet of gas
investment in new wells, new technology and new per day (mmscf/d), while the completion of a number
facilities has been made. of new wells and modifications to surface infrastructure
have raised the capacity of the non-associated
gas system to more than 2 bscf/d.

Oman
Production, Development, Appraisal & Exploration

Assets in Oman consist of the Block 53 Mukhaizna and Block 62 Habiba concessions.

Block 53 Mukhaizna
The Block 53 Concession Area covers 694 square The Mukhaizna EOR project has flooded the Mukhaizna
kilometers of onshore Oman and contains the giant field with steam in order to maximize output. By the
Mukhaizna heavy oil field. Mubadala Petroleum end of 2011, Mukhaizna was producing around 120,000
participates in Block 53 through its affiliate Liwa Energy, bopd; an increase of approximately 115,000 bopd since
a wholly-owned subsidiary of Mubadala that holds Occidental Mukhaizna took over development of the
a 15 percent participating interest in the Mukhaizna field. Initiated in 2006, thermal recovery operations have
EOR project. The project began in July 2005 with been implemented on more than 400 thermal patterns.
the ratification by Royal Decree of the Block 53
Production Sharing Agreement. Mukhaizna currently has an oil treating capacity
of 130,000 bopd and steam injection of greater than
In consultation with Omans Ministry of Oil & Gas, we 450,000 barrels of steam per day (bspd). Further
have worked as a partner (together with Oman Oil E&P engineering, design, and construction activities will
Company, Shell Exploration & Production Oman Ltd, increase oil treating capacity to above the target
Total E&P Oman and Partex (Oman) Corporation) plateau rate of 150,000 bopd, and steam generation
of Occidental Mukhaizna, the designated operator capacity in excess of 555,000 bspd by the end of 2012.
of the field, to design and implement the Mukhaizna
EOR project, the largest in the region.
14

Block 62 Habiba
Mubadala Petroleums most recent project in the Habiba Block 62 is unique in that it involves multiple
Sultanate of Oman is Habiba Block 62, which covers projects, including the development of the Maradi
an area of 2,200 square kilometers in north Oman. Huraymah gas field, appraisal of three other gas
The Exploration and Production Sharing Agreements discoveries, and both shallow and deep exploration
covering the Block were signed with the countrys potential. Mubadala Petroleum owns a 32 percent
Ministry of Oil & Gas by Mubadala, Oman Oil E&P interest in this block.
Company and Occidental Oman Gas Company.

Arabian Gulf
Bahrain Manama

Gulf Of
Bahrain Bahrain
Field

Gulf of
Bahrain

Doha

Abu Dhabi

UAE Muscat
Indian Ocean
Block 62 (Habiba)

Oman

Block 53 (Mukhaizna)

0 50 100 150km
Mubadala Petroleum
Our Business
15

Libya
Exploration

Mubadala Petroleum, through its affiliate Liwa Energy,


holds a 20 percent working interest in Block 103 onshore Mediterranean Sea
Libya. Liwa Energy has partnered with the operator
of the block, Oxy Libya LLC, on a five-year contract
Tripoli
which was awarded in June 2008.

Libya

103

Tanzania
Exploration

Block 7, offshore Tanzania, is located in an exciting


new province that holds great potential and represents
Mubadala Petroleums first entry into sub-Saharan Africa.
We hold a 20 percent interest in the deepwater block,
where depths range from 500 to 3,000 meters, and
work in partnership with operator Ophir, who holds
the remaining 80 percent of the block. Dar es Salaam Block 7 Dominion

Tanzania
Following a large 3D seismic survey acquired in late Tanzania Indian Ocean
2010, and additional 2D seismic acquired in 2011,
we plan to drill the first exploration well in 2013.

Block 7 typifies our intention to seek new, high impact


exploration opportunities within the eastern hemisphere.
16

Kazakhstan
Exploration

The Caspian Sea region holds many opportunities, both on and offshore. Our entry
to this area took place in June 2009, when we signed a contract with our partners
covering the joint exploration of the Nursultan Block (N Block). Located 30 kilometers
south-south-west offshore of Aktau, Kazakhstan, N Block covers an area of approximately
8,100 square kilometers.

Our interest of 24.5 percent in N Block is matched The first N Block exploration well was drilled in
by ConocoPhillips, while the majority partner 2010, encountering hydrocarbons at several levels.
KazMunayGaz (KMG), holds the remaining 51 percent Further exploration and appraisal is ongoing.
interest. The project is run by a joint operating company,
N Operating Company.

Kazakhstan

Aktau

N-Block
Ca
sp
ian
Se
a
Mubadala Petroleum
Our Business
17

Thailand
Production, Development, Appraisal & Exploration

The activities conducted by Mubadala Petroleum throughout our long-standing


presence in Thailand reflect our strong capabilities in the areas of exploration,
appraisal, development and production of hydrocarbons.

With a presence in Thailand through Pearl Oil since 2004, Development: Operation of the Manora field
we are the third largest petroleum concessionaire in the Mubadala Petroleum holds a 60 percent interest in,
country. We operate all 12 concessions in which we have and operates, the G1/48 concession, located in the
an interest, including the very successful Jasmine B5/27 Northern Gulf of Thailand. This block contains the
offshore development in the Gulf of Thailand. Manora field, which is about 80 kilometers offshore
and sits beneath 44 meters of water.
Our contribution to the Thai economy since commencing
operations has been significant, with total expenditures The Manora field development was sanctioned in
up to the end of 2011 in excess of US$1.5 billion, July 2012. The field was discovered in 2009 and the
and taxes and royalty payments of more than development concept was selected in late 2011. The
US$750 million. facilities will include a Wellhead Processing Platform with
water injection facilities to maximize oil recovery with oil
As a long-term investor in Thailand, we are fully stored in a Floating Storage and Off take (FSO) vessel.
committed not only to the development of the local
energy industry, but also to acting responsibly, with Production is expected to commence in early 2014,
the utmost respect to the environment and communities reaching a peak rate of approximately 15,000 bopd from
we are operating in. We are engaged in various CSR ten production wells and five injection wells in the main
activities focusing on education, the environment reservoir sequence.
and supporting the local communities.
Appraisal: Nong Yao and Wassana
Production: The success of Jasmine B5/27 In addition, two discoveries are under active appraisal:
In March 2005, just 13 months after concession Nong Yao (Block G11) and Wassana (Block G10) where
acquisition, the first Jasmine platform, WPA, was Mubadala Petroleum holds 75 percent interests each.
installed and first oil was produced in June. Today,
six platforms and one Floating Production, Storage Exploration:
and Offloading (FPSO) unit are in operation. Ban Mubadala Petroleum continues an active exploration
Yen produced first oil in 2008. In December 2011 the program for all its blocks in Thailand and an exploration
production milestone of 40 million barrels was reached; drilling program is scheduled for the second half of 2012.
a substantial increase from the estimate made at the
time of purchase in 2004. In 2011, production output
was 17,500 bopd and all production is sold for local
use to meet Thailands growing energy needs.

The field life strategy has been executed with great


success, allowing production targets to be exceeded
with ongoing efforts to maximize asset value. B5/27
contributes significantly to the overall domestic
crude oil production of Thailand.
18

Thailand Portfolio

Thailand
L21/50
L50/50
G02/48

Bangkok

G01/48
Vietnam
G03/48

B05/27
G02/50 Ho Chi Minh City

L52/50 B06/48

L53/50
G10/48

G11/48

Malaysia
Indian Ocean
Kuala Lumpur

Singapore
(Asia Headquarters)

0 70 140 280 420 560

Kilometers
Mubadala Petroleum
Our Business
19

Malaysia
Appraisal & Exploration

Mubadala Petroleum had been present in Malaysia since April 2010, following the signing
of the first PSC agreement for Block SK320 in February the same year. We have a strong
relationship with Petronas Carigali and are parties to two PSCs with them for blocks
SK320 and PM324.

Appraisal: SK320 Exploration: PM324


Block SK320 is located offshore Sarawak. The block In December 2011, we signed an agreement with
comprises a robust and diverse portfolio of exploration Total acquiring a 20 percent working interest in
prospects including pre-carbonate, carbonate and Block PM324, in an area of deep, largely untapped
post-carbonate plays. We are the operator, with high pressure/high temperature clastic reservoirs
75 percent interest, and Petronas Carigali holds the of the prolific Malay Hydrocarbon Basin situated
remaining 25 percent. 3D seismic acquisition was offshore the Malaysian Peninsula. Total is the operator
undertaken in 2010 and an appraisal well at the of the block and holds a 50 percent interest, with
M5 discovery was spud in May 2012. the remaining 30 percent held by Petronas Carigali.

Malaysia
PM324 SK320
Kuala Lumpur

Malaysia

Singapore
(Asia Headquarters)

0 70 140 280 420 560

Kilometers
Kilometers
20

Vietnam
Appraisal & Exploration

We have been involved in the development of the oil and gas industry in Vietnam since 2007
and have built up valuable partnerships with Petrovietnam, Talisman, Premier, and other
industry participants.

Mubadala Petroleum is pursuing a number of exciting interest in this deepwater block in May 2011. 3D seismic
opportunities offshore Vietnam. acquisition took place in Q2 2012. Talisman is the
operator with a 40 percent interest and Petrovietnam
Appraisal: Exploration Production Corporation Ltd (PVEP)
Mubadala Petroleum has a 15 percent interest in Block holds a 40 percent interest.
07/03 with Premier as the operator. The Ca Rong Do field
(CRD) was discovered in 2009 and the CRD-2X appraisal Mubadala Petroleum is operator of Block 04-02 with
well was drilled in April 2011. a 90 percent interest and Bitexco holds a 10 percent
interest. Drilling of the first exploration well in Block
Exploration: 04-2 is scheduled for the latter part of 2012.
Block 135/136-3 is located adjacent to CRD offshore
Vietnam and Mubadala Petroleum acquired a 20 percent

South China Sea

Vietnam

Ho Chi Minh City


04-02
07/03
135
136-3
0 70 140 280 420 560

Kilometers
Mubadala Petroleum
Our Business
21

Indonesia
Development & Exploration

Present in Indonesia since 2003, we are currently focused on the development of the
Ruby gas field, located in the Sebuku block. Mubadala Petroleum is also the operator
of the Kerapu block and is exploring further growth opportunities in high-impact
offshore areas.

Development: Ruby gas field


The Ruby gas field is located in the Makassar Straits, Gas will be transported to shore via pipeline and
offshore East Kalimantan, and will supply gas received at a dedicated terminal for processing
for the domestic gas market. Mubadala Petroleum, at the Senipah Onshore Gas Plant, operated by
through our Indonesian affiliate, is the operator of, Total E&P. It will then be delivered to the buyer,
and has a 70 percent interest in, the Sebuku block PT Pupuk Kalimantan Timur, which operates
that covers the field. a nearby fertilizer plant.

In June 2011, the development of the Ruby gas Exploration: Kerapu PSC
field was sanctioned. We are now proceeding with We are the operator of the Kerapu block 3D
construction of the project facilities together with seismic was acquired in 2010 and exploration
our partners Total E&P Sebuku and INPEX South drilling is being planned.
Makassar Ltd (each with 15 percent interest)
we will invest approximately US$500 million.

Two platforms, a tripod wellhead platform (WHP)


and a four-leg production and living quarters platform
(PQP) are under construction, and their offshore
installation will commence in 2013. This will be followed
by offshore hook up, commissioning and start-up
with first gas scheduled for the later part of 2013.
22

Indonesia Portfolio

Manila

Kerapu PSC

Singapore
(Asia Headquarters)

00'0"

Sebuku PSC

Jakarta

0 70 140 280 420 560


Indian Ocean
Kilometers
Mubadala Petroleum
HSSE
23

HSSE
Health, Safety, Security and Environment

Our Commitments
The continuous improvement of our health,
safety, security and environmental (HSSE)
performance is a high priority for us and
is a prime responsibility of management
and employees at all levels.

We foster a culture that encourages collective and personal responsibility, alignment


with our policies and goals, and demonstrable commitment to HSSE by providing
resources at all levels and ensuring policies and procedures are properly executed.

Effective application of our HSSE management environmental policies and practices was recognized
processes results in enhanced business performance, in 2010 with accreditation to two major international
reduction of risk exposure and ultimately a safer working standards: ISO 14001 and OHSAS 18001. We were
environment for everyone associated with our operations. the first company in Thailand to be awarded both
accreditations simultaneously. We have received annual
The close working relationships we enjoy with our recertification for both international standards ever since.
contractors and venturers includes collaboration
to ensure our high HSSE standards are achieved Our team in Indonesia has achieved over five million
and sustained. man-hours without a recordable injury since 2009.
Safety is also a key focus for the Ruby gas development
Our performance in Thailand, the center of operated project, which has already achieved over two million
activity, is an excellent example of the results delivered man-hours without a recordable injury.
by our HSSE culture and policy. In addition to its
operations fully meeting, and in a number of areas
exceeding, local and international industry standards,
the team achieved 13 million man-hours without a lost
time injury in 2011. The strength of our safety and
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Mubadala Petroleum
Working with Communities
25

Working with Communities


A Responsible Corporate Citizen

Mubadala Petroleum recognizes the importance of building strong relationships with


the communities in which we operate. We are committed to playing a responsible role
and contributing to long-term, sustainable improvements in those communities.

To deliver effectively against our commitments, Environment: T  hailand Coral Restoration


we take an organized, consistent approach based Also in Thailand, we have supported and actively
on good industry practice, integrity and transparency. participated over the years in a variety of environmental
programs ranging from forest to coastal mangrove
In fulfilling this commitment we communicate openly reforestation, juvenile turtle and fish release programs
to ensure that local stakeholders understand the nature to educating communities and our staff on
of our operations and have an opportunity to raise environment issues.
concerns and have them appropriately addressed.
 010 saw a massive coral bleeching episode in the
2
We also work in partnership with local stakeholders, Gulf of Thailand and so in 2011 we supported two
including local authorities, community groups reef restoration programs, in Sattahip, Chonburi
and/or NGOs, to understand the needs of local and Koh Jarn, Prachuab Khirikhan Province. The Satthip
communities and implement community project is run in collaboration with the Plant Genetic
investment projects and programs. Conservation project, under the Royal Initiative of
Her Royal Highness Princess Maha Chakri Sirindhorn,
the Special Naval Warfare Command and Chulalongkorn
We focus on projects and programs in education
University (Department of Marine Science, Faculty of
and training, health, economic diversification
Science). This coral rehabilitation project has already
and environmental improvements.
shown very good results and we continued our
support in 2012.
Some examples of our recent community activities
are set out below. Health
Clean water is a pre-requisite of good health.
Education and Training In Vietnam, we installed water pumps and purified
In Malaysia we have teamed up with a well-respected water systems in schools and provided water tanks
national non-profit organisation, MyKasih Foundation to poor residents in Ben Tre Province to ensure they
supporting 100 under-privileged families in Miri, have clean water for drinking and cooking. In Oman,
Sarawak with the MyKasih Love My Neighbourhood we supported a major water supply project for a local
project. The program helps break the cycle of poverty community in the Al Wusta region.
by running a food aid program and supporting families 
through skills training and education. In Kazakhstan we have supported a newly opened
maternity hospital with required medical equipment
In Thailand, we are supporting computer-aided and purchased lifeboats and new ambulances
learning by bringing essential technology capability for the local community.
into rural schools in partnership with education
authorities and local schools. We have also funded
local scholarships to support underprivileged
children through the school year.
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A Mubadala Company

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