PC North Madura II, a subsidiary of Malaysia’s state-owned oil firm Petronas, has reached the Final Investment Decision (FID) for the development of the Hidayah field, located offshore Indonesia.
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.
PC North Madura II is the operator with 100% participating interest in the Production Sharing Contract (PSC) for the Hidayah field, in the North Madura II Contract Area in East Java.
“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,” said Mohd Redhani Abdul Rahman, Petronas Vice President of International Assets of Upstream.
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.