KUALA LUMPUR, Jan 10 (Bernama) -- PC North Madura II Ltd., a subsidiary of PETRONAS, has reached the Final Investment Decision (FID) for the development of the Hidayah field, located in the North Madura II Contract Area, East Java, Indonesia.

PC North Madura II Ltd. is the operator with 100 per cent participating interest in its Production Sharing Contract (PSC).

PETRONAS Executive Vice President and Chief Executive Officer of Upstream, Mohd Jukris Abdul Wahab said, “This milestone underscores PETRONAS’ unwavering commitment to supporting the Government of Indonesia’s target of achieving energy self-sufficiency. We are grateful for the continued support of the host authority and look forward to close collaboration as we progress the Hidayah field development.”

The development plan encompasses the drilling of oil production wells, supported by an unmanned integrated wellhead and central processing platform. The plan also includes a Floating Storage and Offloading (FSO) unit equipped with living quarters and a central control room to ensure safe and reliable operations.

PETRONAS Vice President of International Assets of Upstream, 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.”

On 9 January 2025, PC North Madura II Ltd. hosted a high-level stakeholder engagement for the project, attended by key Indonesian stakeholders, including the Head of SKK Migas, Djoko Siswanto.

PETRONAS currently operates the Ketapang, North Madura II, and North Ketapang PSCs offshore East Java, as well as the Bobara PSC, offshore West Papua. The company is also a joint venture partner in five PSCs spanning onshore and offshore Sumatra, the Natuna Sea, East Java, as well as East Indonesia.

Amid the energy transition, PETRONAS remains focused on expanding its global footprint while exploring lower-carbon initiatives to support sustainable energy development, delivering secure, affordable, and reliable energy to its customers worldwide. 

Issued by

Media Communications
Group Strategic Relations and Communications
PETRONAS  

SOURCE: PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Janette Boniface Barau
Tel: +6012-890 0241
Email: janette.barau@petronas.com.my

Name: Nabil Basaruddin
Tel: +6 012 4249 750
Email: nabil.basaruddin@petronas.com.my

--BERNAMA