Abu Dhabi – Mubasher: Mubadala Petroleum is expected to invest approximately $450 million in the development plan for the Cá Rồng Đỏ (CRD, or Red Emperor) oil and gas field in Block 07/03 offshore Vietnam, according to a statement.
The company has received approval from the Vietnamese government regarding the development.
Mubadala holds a 21.25% interest in Block 07/03 with operator Repsol holding 46.75%, PVN 14.25%, PVEP 12.75%, and Pan Pacific Petroleum 5%.
The field was discovered in 2009 and appraised in 2013.
