Tue, 24 Jul 2012 02:56:44 CDT
Abu Dhabi's Mubadala Petroleum and its partners are set to begin developing an oil field in the northern Gulf of Thailand, which was discovered in 2009, the Associated Press has reported. The state-backed firm said it hopes to begin production from the Manora field in early 2014, with peak production of 15,000 barrels a day within a few months of operation. The project is expected to cost $246m. Mubadala's Pearl Oil unit holds a 60% interest in the exploration area, Australia's Tap Energy has a 30% share, while Northern Gulf Petroleum holds a 10% stake.
Read full article at: ameinfo.com