Mubadala Energy has taken over the name Mubadala Petroleum. According to the strategy underlying the new branding, Mubadala Energy will broaden its gas-weighted portfolio in areas like LNG while investigating new energy markets like blue hydrogen and carbon capture.
The strategy also sees a strategic focus on decarbonizing the business while driving innovation and technology across all operations.
Musabbeh Al Kaabi, CEO of UAE Investments at Mubadala Investment Company and chairman of Mubadala Energy, said: “Mubadala Energy has earned its place as a major player on the international energy stage. This new brand identity accurately reflects the business in its next phase of growth aligned with the energy transition through a gas-weighted portfolio and an increased focus on more sustainable energy sectors.”
Mansoor Mohamed Al Hamed, the CEO, of Mubadala Energy, commented: “We are tremendously proud of what we have achieved since we were founded ten years ago. But today is the right time to signal our focus on energy transition through a bold new brand.
“We are building on a track record which has seen significant growth through an expanding gas portfolio, and with our deep capabilities and strong partnerships around the world we are well positioned to embark on a new chapter in our story as Mubadala Energy.”
Making the change in its tenth year of operations, the company has continued to grow and now spans eleven markets, employing over 500 people.
This year, Mubadala Energy also reached the significant production milestone of 500,000 barrels of oil equivalent a day (boed) for the first time in its history, marking a 22 per cent increase in production from 2021.
Continued commitment
The company will continue its commitment to making a positive impact on the communities it operates in, as a long-term and responsible partner, including:
- Managing its shareholder’s interest in Dolphin Energy, a foundational asset for the Mubadala Investment Company portfolio (Mubadala).
- Its operated business in Southeast Asia, including the Ruby gas field in Indonesia which recently achieved cumulative gas production over 250 billion cubic feet, the Jasmine field in Thailand which has recorded over 85 million barrels of cumulative production, and Nong Yao and Manora, which have both achieved over 20 million barrels of cumulative production.
- Growing its community investment activities year on year across education, environment, community development and employee engagement, so that in 2021, 142,000 people benefitted from projects; a 63 percent increase from 2020. During the global Covid-19 pandemic Mubadala Energy stood by the communities by supporting the government and front-line workers with a wide range of practical measures and donations.
- Launching a sustainability report in 2020 and setting out a clear sustainability framework in its 2021 edition.
- Achieving top quartile HSSE (health, safety, security and environment) performance.
- Introducing a digital transformation strategy to ensure innovation and technology leadership is at the heart of operations.
- Investing in people to develop homegrown talent, enabling Emiratisation to reach 61 percent in Abu Dhabi and 96 percent nationalization across the company’s offices in Southeast Asia.
Recent reports state that Canada Cartage will be acquired by Mubadala Capital, the asset management division of Mubadala Investment Company. The latter is a logistics platform that offers specialized national fleet solutions, general freight services, managed transportation, fulfillment, and distribution, as well as home delivery services to some of Canada’s biggest blue-chip businesses in the grocery, food, retail, and e-commerce sectors.
