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Mubadala Petroleum starts output at oil field in Gulf of Thailand

The unit of Abu Dhabi state investment fund Mubadala said production was expected to reach a peak rate of around 10,000 barrels of oil per day as more wells were completed, it said in a statement.

DUBAI, June 18 (Reuters) – Mubadala Petroleum has started production at its Nong Yao oil field, located in the southern Gulf of Thailand, it said on Thursday, with output to be sold into the Thai market.

The unit of Abu Dhabi state investment fund Mubadala said production was expected to reach a peak rate of around 10,000 barrels of oil per day as more wells were completed, it said in a statement.

Nong Yao, which it is developing along with KrisEnergy and Palang Sophon Limited, is Mubadala’s third operating oil field in Thailand, along with Jasmine and Manora.

Mubadala’s gross production in Thailand will reach around 40,000 barrels of oil per day during the second half of 2015, more than double the rate from a year ago and making it Thailand’s second largest producer of black oil, it said.

(Reporting by Tom Arnold; Editing by David French)