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Mubadala Unit Gets Nod For $500M Gas Project
An energy unit of Abu Dhabi’s Mubadala Development Company has received approval to develop a $500 million offshore Ruby gas project with its partners.
An energy unit of Abu Dhabi’sMubadala Development Companyhas received approval to develop a $500 million offshore Ruby gas project with its partners,The Wall Street Journalreports. The approval has been provided by Indonesia’s upstream regulatorBPMigas.
Mubadala领域的一部分ners in the gas field development arePearl Oil, a wholly-owned subsidiary of Mubadala’sPearl Energy, which will have a 70% stake in Ruby, while总生产SebukuandINPEX South Makassarwill own 15% each, addsReuters. The field is due to be operational in 2013 and its gas will be sold to the state-ownedPT PupukKaltim, which operates a fertilizer plant.
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