Petronas Strikes Oil Offshore Indonesia

Wednesday, February 24, 2021

Malaysian oil company Petronas said Wednesday it had made an oil discovery at the Hidayah-1 exploration well, located within the North Madura II Production Sharing Contract (PSC), offshore East Java,  Indonesia. 

Petronas' subsidiary PC North Madura II Ltd. is the operator with 100 percent participating interest in the North Madura II PSC.  

The company started drilling the Hidayah-1 exploration on January 7, 2021 and drilled to a depth of 2,739 meters.

"The well encountered an oil-bearing carbonate build-up with good reservoir qualities in the Ngimbang carbonate formation and tested at approximately 2,100 BOPD with good crude quality. The Hidayah-1 exploration well results will be further assessed to ascertain its potential," Petronas said.

Petronas Vice President of Exploration, Upstream, Emeliana Rice-Oxley said: “The discovery at the Hidayah-1 exploration well marks an important milestone for the North Madura II PSC as it has proven oil potential of carbonate build-up in the area. 

"This is an encouraging development and is a testament to the vast exploration potential in Indonesia. We look  forward to strengthening our relationship and collaboration with the  government towards delivering clean, safe, and reliable energy supply to  the Republic of Indonesia.”  

In Indonesia, Petronas is also the operator for the Bukit Tua oil and gas field offshore East  Java and is a joint venture partner in six other PSCs located both onshore and offshore Sumatera, Natuna Sea, East Java as well as  Kalimantan.  


  


Categories: Energy Industry News Activity Asia Discoveries

Related Stories

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Fugro Expands Geotechnical Testing Capabilities in Indonesia

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

ABL Lands Work on BP’s Indonesian Gas and CCUS Project

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Current News

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com