Petronas Strikes Oil Offshore Indonesia

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.  


  

Related Stories

ADES Expects Up to 44% Earnings Rise Despite Regional Tensions Impacting Rigs