Indonesia has given the green light for an Abu Dhabi Government-owned company to embark on a US$500 million (Dh1.83 billion) gas project.
Mubadala Development, a strategic investment company owned by the Abu Dhabi Government, had been waiting for its South East Asian energy subsidiary, Pearl Energy, and two joint-venture partners to get the Indonesian government's go-ahead for the development of an offshore gas field.
Permission for the Ruby field marks a victory for Mubadala in a region it entered only three years ago.
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