By: OrePulse

Mubadala Energy, the Abu Dhabi-based energy investment arm of sovereign wealth fund Mubadala, said it aims to double production over the next decade, with natural gas accounting for about 70% of its portfolio as it builds out projects from Southeast Asia to the United States Gulf Coast.

Acting Chief Executive Adnan Bu Fateem, speaking on the sidelines of ADIPEC 2026, said the company's approach would emphasize "disciplined growth and reliable operational performance" as it expands. Mubadala Energy currently produces about 450,000 barrels of oil equivalent per day on a working-interest basis, operating in 10 countries with seven producing assets, according to company figures.

In Malaysia, the company's Pegaga field off the coast of Sarawak has increased capacity by 30% to 750 million standard cubic feet per day following platform upgrades. Nearby, the Layaran and Tangkulo discoveries in the South Andaman block have identified more than 8 trillion cubic feet of gas in place, adding to the company's exploration pipeline in the region.

In the United States, Mubadala Energy holds a 24.1% stake in Caturus, which includes Haynesville shale gas acreage and the Commonwealth LNG export project in Louisiana. Commonwealth LNG reached a final investment decision in May for an initial capacity of 9.5 million tonnes a year, with plans to expand to 16 million tonnes a year. The Gulf Coast project is positioned as a cornerstone of Mubadala Energy's push to grow its liquefied natural gas exports to international markets.

The company also holds upstream interests in Egypt, including a 15% stake in the Nargis concession acquired from Eni, a 10% stake in Shorouk and a 20% stake in Nour, extending its exposure to Mediterranean gas alongside its Southeast Asian and North American assets.

Bu Fateem added that the company continues to seek new partnerships that fit that approach, rather than pursuing rapid, debt-fueled acquisitions.

Mubadala Energy's doubling target underscores a broader shift among Gulf state-linked investors toward gas and LNG as a long-term growth engine, even as some energy majors recalibrate spending plans. With gas set to make up roughly seven-tenths of its output within 10 years, the company is positioning itself among a group of state-backed players expanding gas supply chains that stretch from Southeast Asian fields to Gulf Coast export terminals and onward to buyers in Asia and Europe.

The company did not disclose a specific capital expenditure figure for the 10-year growth plan or provide a detailed year-by-year production trajectory.

Mubadala Energy's plan was one of several growth announcements unveiled by Gulf energy companies during ADIPEC 2026, the Abu Dhabi International Petroleum Exhibition and Conference, which has in recent years become a venue where regional national oil companies and sovereign-linked investors outline international expansion plans alongside advances in carbon capture and lower-emission technology.