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

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

Sapura Energy Rebrands to Vantris Energy

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

Current News

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Sapura Energy Rebrands to Vantris Energy

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