Abu Dhabi, UAE— Mubadala Petroleum, the Abu Dhabi-headquartered international energy company, has unveiled its new brand name: Mubadala Energy.
The company said the new brand “reflects a fresh strategic direction” that will see Mubadala Energy build on its contribution to the energy transition by expanding its gas-weighted portfolio in areas such as LNG while exploring new energy sectors including blue hydrogen and carbon capture.
The strategy also sees a strategic focus on decarbonising the business while driving innovation and technology across all operations.
Musabbeh Al Kaabi, Chief Executive Officer of UAE Investments at Mubadala Investment Company and Chairman of Mubadala Energy, said, “Mubadala Energy has earned its place as a major player on the international energy stage. This new brand identity accurately reflects the business’s next phase of growth aligned with the energy transition through a gas-weighted portfolio and an increased focus on more sustainable energy sectors.”
This year Mubadala Energy reached the production milestone of 500,000 barrels of oil equivalent a day (boed) for the first time in its history, marking a 22 percent increase in production from 2021.
In 2017, Mubadala Energy shifted its strategy to natural gas, a transition that saw the company realize key projects such as the acquisition of a 10 percent participating interest in Egypt’s Zohr gas field and the more recent investment to acquire a 22 percent stake in the Tamar Gas field, offshore Israel.
Other major gas projects include Mubadala Energy’s operated Pegaga gas field in Malaysia, which recently achieved its first commercial gas, hitting the production milestone of 500 MMscf (million standard cubic feet) and 16,000 barrels of condensate per day.