Mubadala invests US$500 million in Sebuku Block

JAKARTA: Mubadala Development Co, an investment company owned by government of Abu Dhabi, United Arab Emirates, is ready to invest US$500 million in Ruby's offshore gas field, in Sebuku Block, Makassar, South Sulawesi.Cited from Bloomberg, Mubadala put the investment through Pearl Oil Ltd. The plan to develop Ruby field has obtained a nod from government of Indonesia in July 2008.Pearl Oil Ltd owns 70% of the field, while Inpex and Total SA share 15% each. (T03/NOM)