Malaysia’s national oil and gas company, PETRONAS, through its subsidiary PC North Madura II, has made a final investment decision (FID) on the Hidayah field development in the North Madura II Contract Area, East Java, Indonesia.
The production sharing contract (PSC) is operated by PC North Madura II with a 100% participating interest.
The development plan for the Hidayah field includes the drilling of oil production wells and the construction of an unmanned integrated wellhead and central processing platform.
Additionally, an FSO unit will be established, complete with living quarters and a central control room.
PETRONAS International Assets of Upstream vice-president Mohd Redhani Abdul Rahman said: “Reaching the FID for the Hidayah field is a significant milestone for PETRONAS in Indonesia. This achievement builds on the momentum of our promising oil discovery in the North Madura II Contract Area in 2021, paving the way for us to play a more strategic role in supporting the region's growing energy needs.”
PETRONAS' operations in Indonesia extend beyond the Hidayah field. The company manages the Ketapang, North Madura II and North Ketapang PSCs offshore East Java, as well as the Bobara PSC offshore West Papua.
PETRONAS is also a joint venture partner in five PSCs across onshore and offshore Sumatra, the Natuna Sea, East Java and East Indonesia.
In a separate initiative, PETRONAS, via Malaysia Petroleum Management and in partnership with Beicip Franlab Asia, last week launched an integrated basin study for the Malay Basin off the coast of peninsular Malaysia.
This study employs 4D modelling and machine learning to analyse subsurface structures and predict hydrocarbon migration and entrapment.
The Malay Basin, an oil-producing region since the 1970s with more than nine billion barrels of oil equivalent produced, is considered a 'super basin'.
Recent explorations have revealed new discoveries, underscoring the basin's potential. It is also being evaluated for carbon capture and storage opportunities, aligning with sustainable energy development goals.
