Mubadala acquires Pearl Energy

Notes and media contacts

About Mubadala Development Company

Mubadala Development Company (Mubadala) is an investment and development company at the forefront of Abu Dhabi's economic transformation.

At the core of its strategy, Mubadala makes long-term, capital intensive investments to deliver strong financial returns and economic diversification. As a wholly-owned investment firm of the Abu Dhabi government, its mandate is to transform the Emirate from a single sector economy, driven predominantly by oil and gas, into a multi-sector global economy that comprises a range of thriving industries.

Mubadala's current investment focus is on industries including healthcare, technology, aerospace, real estate and energy.

Mubadala has recognized the need to build on the Emirate's legacy as a trusted energy supplier. It is now taking steps to create a diverse range of businesses in order to meet the world's energy demands today and into the future.

Mubadala works with best-in-class partner organizations around the world, providing investment and expertise to drive further exploration, production, petroleum services and international growth.

Together with market leaders, Mubadala is creating a home-grown knowledge base and new technologies as well as establishing technical training and professional development in all energy-related disciplines.

As the world prepares to respond to the growing energy challenge, Mubadala is driving investment and development to provide solutions for sustainable and secure energy supplies in the future.

Current Energy and Industry Projects:

Masdar (Abu Dhabi Future Energy Company) - Abu Dhabi's multi-faceted, multi-billion dollar investment in the development and commercialization of innovative technologies in renewable, alternative and sustainable energies as well as sustainable design. In 2008 it broke ground on Masdar City, the world's first zero-carbon, zero-waste, car-free city, where all of its programs will be centrally located.

Dolphin Energy - The Dolphin Gas Project is the first cross-border natural gas network in the GCC. Its mission is to produce, process and supply substantial quantities of natural gas from offshore Qatar to the United Arab Emirates.

Petroleum Exploration in Oman - An additional exploration project for Liwa Energy (a wholly owned subsidiary of Mubadala) in Block 54, southeastern Oman.

Mukhainza Oil Field - A production sharing agreement with the Ministry of Oil & Gas in Oman for the development of the Mukhainza heavy oil field.

Petroleum Exploration in Libya - A Liwa Energy project to share in nine Libyan exploration blocks with US Occidental Petroleum (Oxy).

Hadjret Ennous Independent Power Project - An independent power project in Algeria for the private sector. The project represents over a fifth of today's generation capacity in Algeria.

Barka 2 Independent Water and Power Project - A project to design and develop a new build natural combined cycle gas fired power station and seawater desalination facility in Barka, Oman.

Tanqia Waste Water System - A project to build a new municipal waste water gathering and treatment facility in the Emirate of Fujairah under a 33 year concession.

Al Rusail Independent Power - A power company that owns and operates an existing open cycle, natural gas-fired power generation facility at Rusail in Oman.

Tabreed National Central Cooling Company - A regional pioneer in 'district cooling' technology, which uses a network of pipes to distribute chilled water from a central cooling plant to a group of residential and commercial buildings.

Mubadala Petroleum Services Company - A Mubadala company that is building on the Emirate's existing business in petroleum products and services by investing in profitable, strategic and commercial ventures with manufacturers and superior service providers.

Emirates Aluminium - The UAE's industrial flagship project, targeted to be the largest single site aluminium smelter in the world.

Sangaredi Alumina Refinery Project - An alumina refinery project in Guinea.

Bani Saf Aluminum Smelter - A project to create a 700,000 tonne/annum aluminum smelter at Bani Saf, western Algeria.

Abu Dhabi Ship Building - A world-class ship builder, specializing in the construction, repair and refit of naval, military and commercial vessels.

For more information, please contact:

Hanan Harhara
Dir. Tel: 00971 2 413 0009