Mubadala Petroleum said on Tuesday that it has awarded the contract to develop an oil field in Thailand.
The UAE-based company said in a statement that the platform engineering, procurement, construction, installation and commissioning (EPCIC) contract for the Nong Yao oil field has been awarded to Nippon Steel and Sumikin Engineering Co Ltd.
Work has started and completion is expected in early 2015. The value of the contract has not been disclosed.
The Nong Yao oil field development was sanctioned by Mubadala Petroleum and its partner KrisEnergy in August.
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 bpd. Production is expected to commence in mid-2015, the statement said.
Mubadala Petroleum manages assets and operations spanning 12 countries with a primary geographic focus on the Middle East, Africa, Central and Southeast Asia.
In Thailand, Mubadala Petroleum has had a presence since 2004 and is the third largest petroleum concessionaire in the country.
Mubadala Petroleum, holds a 75 percent interest in the concession and is the operator, while Kris Energy has the remaining 25 percent interest.