17/01/2025 by OilStoreAdministrator
Petronas has announced that it has made a final investment decision to develop the Hidayah field in Indonesia.
The field is located in the East Java region in the North Madura II Contract Area. Developing it will involve wells being drilled for oil production with the support of a central processing platform and an integrated unmanned wellhead.
A floating storage and offloading unit with a central control unit to ensure reliable and safe operation also features in the plan. This will also include living quarters.
Mohd Redhani Abdul Rahman, the vice president for international upstream assets at Petronas, said the decision:
“…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, which also makes lubricants like agricultural oil, reiterated its commitment to providing its customers around the world with affordable, secure and reliable energy. It says this will involve it enlarging its global presence during the energy transition while also investigating low-carbon solutions to develop sources of sustainable energy.
The company, which is based in neighbouring Malaysia, already operates a number of assets in Indonesia. These include the West Papua Bobara PSC offshore project, The East Java North Ketapang PSC project, and the North Madura II Ketapang project. It also has an interest in five other developments in Indonesia.
You may also interested in:
Petronas and Petrobras sign contract for Brazilian oil fields
State-funded Malaysian oil and gas company, Petronas, recently completed a new transaction with Petrobras, the Brazilian oil major.
US supermajor confirms important Gulf of America oil discovery
Oil and gas titan Chevron Corporation has confirmed a major oil find at the “Bandit” prospect based in the Gulf of America after encountering oil-bearing Miocene sands.