Mubadala Energy Aims to Double Production Within a Decade, With Gas at 70% of Portfolio

Natural gas makes up about 70% of the company's portfolio, Bu Fateem told the Emirates News Agency (WAM), and the growth plan leans on gas assets in Southeast Asia, the eastern Mediterranean and the United States. He said the priority now was to turn recent discoveries and acquisitions into producing projects, rather than simply adding volume.

The target matters because Mubadala Energy has spent the past two years assembling a wider international portfolio, including its first move into the US market. The company now operates in 10 countries and holds seven producing assets, according to Bu Fateem, spread across Southeast Asia, the Middle East, the eastern Mediterranean and the US.

The Growth Pipeline

In Malaysia, Mubadala Energy operates the Pegaga gas field off Sarawak. Bu Fateem said teams finished upgrading the offshore platform within 10 months of the project being approved, lifting capacity by 30% to 750 million standard cubic feet per day. The extra gas feeds the Bintulu LNG system, and he said the company wants to expand further in the country.

Indonesia is central to the next phase. The company operates the Layaran and Tangkulo discoveries in the South Andaman area, which he said together hold more than 8 trillion cubic feet of natural gas resources, and it is continuing to develop Tangkulo.

In the US, the company's investment in Caturus gives it a position running from gas production in the Haynesville basin to the Commonwealth LNG export project. Bu Fateem said construction at Commonwealth LNG began after the final investment decision in May 2026. The project's planned capacity is 9.5 million tonnes a year, and he said the company has recently disclosed an intention to raise that to 16 million tonnes a year. Commonwealth LNG is backed by long-term commercial agreements with buyers in Asia, Europe and the Middle East, and operations are targeted to start in 2030.

Bu Fateem described the US as the company's newest market and one of the largest in the energy sector, saying the Caturus investment gives it a platform for further expansion in North America.

In Egypt, the company has completed the acquisition of a 15% stake in the offshore Nargis concession, adding to its existing interests in the Zohr and Nour concessions.

Data Tools and Emissions

Bu Fateem said operating efficiency was as important to the plan as new investment. Mubadala Energy uses predictive maintenance and real-time operational data to reduce downtime and emissions, he said, and a digital twin at Pegaga supplies live information on wells, the reservoir and maintenance needs to speed up decisions.

The company cut its scope 1 and scope 2 greenhouse gas emissions by 30.9% last year, he said, and is working on energy efficiency, gas flaring and methane management. Results are reported in its annual sustainability reports.

Bu Fateem did not give a current production figure in his remarks, so the starting point for the doubling target was not specified. The next large milestone in the plan is Commonwealth LNG, which is not due to begin operating until 2030.