Malaysia’s state-owned oil giant, Petronas, has announced that its subsidiary, PC North Madura II, has made the Final Investment Decision (FID) for developing the Hidayah field, located offshore Indonesia.
The project includes drilling oil production wells and constructing an unmanned integrated wellhead and central processing platform. Additionally, a Floating Storage and Offloading (FSO) unit will be deployed, featuring living quarters and a central control room to ensure efficient and secure operations.
PC North Madura II, holding a 100% interest in the Production Sharing Contract (PSC) for the Hidayah field, operates within the North Madura II Contract Area in East Java.
“This milestone underscores Petronas’ commitment to Indonesia and builds on our successful oil discovery in the North Madura II Contract Area in 2021,” said Mohd Redhani Abdul Rahman, Petronas Vice President of International Assets, Upstream. “It positions us to play a more strategic role in meeting the region’s growing energy demands.”
Petronas currently oversees several offshore PSCs, including Ketapang, North Madura II, and North Ketapang in East Java, as well as the Bobara PSC off the coast of West Papua. The company also partners in five PSCs spanning onshore and offshore Sumatra, the Natuna Sea, East Java, and East Indonesia.