Mubadala Petroleum, a company established and owned by the Abu Dhabi government, has diversified its exploration interests in Malaysia by signing an equity swap deal with Royal Dutch Shell. The deal provides Mubadala with access to the deepwater offshore through a 20 per cent share in Block 2B (Sarawak basin), operated by Shell. In return, Shell will acquire a 20 per cent interest in Block SK320 (Sarawak basin), run by Mubadala Petroleum.