Mubadala Energy, the oil and gas arm of Abu Dhabi's Mubadala Investment Co., aims to double its production over the next 10 years, with natural gas accounting for about 70% of its portfolio and Southeast Asian fields carrying much of the growth, its acting chief executive said last week.

Adnan Bu Fateem told the state-run Emirates News Agency (WAM) on the sidelines of the ADIPEC energy conference in Abu Dhabi that the company now wants to turn recent discoveries and acquisitions into producing projects. He named Indonesia as central to that plan.

For investors in Asia, the target matters on two fronts. It commits a Gulf state investor to years of spending on gas supply in Indonesia and Malaysia. And it adds to the long-term volumes that could feed Asian power plants and LNG buyers as Mubadala pushes deeper into the region; the wider group has already been raising its Asia exposure.

Indonesia's Andaman Sea at the center

The company's Layaran and Tangkulo discoveries in the South Andaman area, which Mubadala Energy operates, hold more than 8 trillion cubic feet of natural gas resources, Bu Fateem said, according to the WAM report.

Tangkulo is the first of the two to move into development. In February, oilfield services company SLB won a set of drilling and well services contracts from Mubadala Energy for the deepwater project and a linked exploration and appraisal program, World Oil reported. The work covers the full life of each well, from directional drilling and cementing to well testing and completions. Mubadala is targeting first gas before the end of 2028, according to that report.

The company built up its exploration presence in the Andaman Sea before moving to development. Bu Fateem described the next phase as one of conversion: taking resources already found and bringing them on stream as reliable supply.

Pegaga upgrade lifts Malaysian supply

In Malaysia, Mubadala Energy operates the Pegaga gas field off Sarawak. Platform upgrades there were finished within 10 months of approval and raised production capacity by about 30% to 750 million standard cubic feet a day, Bu Fateem said. Upstream, which reported the debottlenecking on Nov. 2, put the increase at almost 30% above the field's original nameplate design.

Pegaga sends its gas to the Bintulu LNG complex in Sarawak, which Upstream identified as the Petronas LNG Complex, so the extra capacity feeds directly into one of Asia's large LNG export hubs. Bu Fateem said the company is studying further growth at the field. He also pointed to a digital twin system at Pegaga that gives engineers live data on wells, reservoirs and maintenance needs.

Mubadala Energy operates in 10 countries and has seven producing assets across Southeast Asia, the Middle East, the Eastern Mediterranean and the United States, according to WAM.

A wider gas chain, from Haynesville to Egypt

The Asian assets are one part of a broader push across the gas value chain. Bu Fateem said the company is looking for investments that link low-cost gas resources with long-term demand.

In the United States, its newest market, Mubadala Energy holds an investment in Caturus LLC, which spans gas production in the Haynesville Basin and the Commonwealth LNG project in Louisiana. Commonwealth reached a final investment decision in May 2026 with a planned capacity of 9.5 million tons a year, and plans have since been announced to raise that to 16 million tons a year, WAM reported.

In Egypt, the company completed the purchase of a 15% stake in the Nargis Offshore Area, adding to its holdings in the Zohr and Nour concessions.

The company cut its Scope 1 and Scope 2 greenhouse gas emissions by 30.9% last year, Bu Fateem said, and is using predictive maintenance and real-time data to reduce downtime, flaring and methane emissions across its fields.

Mubadala Energy did not give a production figure for its starting point or a capital spending budget for the 10-year plan in the WAM report. The next hard marker for the Asian strategy is Tangkulo's first gas, which the company is targeting before the end of 2028.