MUBADALA INVESTMENT CO.
https://www.mubadala.com/
Company Information
Mubadala Investment Company was created in 2017 through the merger of IPIC and Mubadala Development Company, resulting in the creation of a state investment company across multiple industries, including oil and gas development.[i]
Contact Information
Al Mamoura A Building
Abu Dhabi, 45005
T: +971 2413 0000
F: +971 2413 0001
History in Turkmenistan
Mubadala Investment Co. was one of the companies shortlisted by the government of Turkmenistan in August 2010 to submit a proposal for developing offshore Blocks 9 and 20. In 2009, the company entered into a strategic alliance with ConocoPhillips (also shortlisted) with the intent to develop proposals together for contracts in Turkmenistan.[ii] The two companies have experience working together in Kazakhstan, where in 2008 they won a bid to develop an offshore field approximately 30 km south-southwest of Aktau.[iii]
See the dossier on Petrofac for more information on Mubadala’s role in the development of the South Yolotan Field.
Mubadala was a “Silver Sponsor” of both the 2010 Turkmenistan International Oil and Gas Conference and the 2012 Turkmenistan International Oil and Gas Conference.[iv]
Current Scope of Operations
In 2018, a Memorandum of Understanding was signed between Turkmengaz and Mubadala petroleum, a subsidiary of Mubadala Investment Co. The signing was overseen jointly by President Berdymukhamedov and Crown Prince Sheikh Mohammed Win Zayed al-Nahyen.[v]
In September 2021, another meeting was held by a visiting Turkmen delegation and Mubadala leadership over attracting investments and providing financing for oil and gas projects in Turkmenistan, agreeing to draft yet another Memorandum of Understanding.[vi]
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[i] Mubadala, “About Mubadala,” https://www.mubadala.com/en/who-we-are/about-the-company. Accessed November 30, 2021.
[ii] Carlisle, Tamsin.“Turkmenistan Opens up to West,” The National, August 16, 2010, http://www.thenational.ae/business/energy/turkmenistan-opens-up-to-west. Original weblink no longer active.
[iii] Bloomberg, “Turkmenistan: ConocoPhilips to Team up with Mubadala for Caspian Oil Fields,” April 13, 2010, http://www.energy-pedia.com/article.aspx?articleid=139845. Original weblink no longer active.
[iv] 17th Turkmenistan International Oil and Gas Conference, “Sponsors,” Turkmenistan International Oil and Gas Conference; http://www.oilgasturkmenistan.com/sponsors. Original weblink no longer active.
[v] Turkmen Petroleum, “SC “TURKMENGAS” AND THE UAE “MUBADALA PETROLEUM” EXPLORE THE POSSIBILITY OF COOPERATION,” https://turkmenpetroleum.com/en/2018/03/16/sc-turkmengas-and-the-uae-mubadala-petroleum-explore-the-possibility-of-cooperation/. Accessed November 30, 2021.
[vi] Business Turkmenistan, “Abu Dhabi Fund to Invest in Production Projects in Turkmenistan,” https://business.com.tm/post/7606/abu-dhabi-fund-to-invest-in-production-projects-in-turkmenistan. Accessed November 30, 2021.