Fossil Energy – Petronas
PETRONAS has reached the Final Investment Decision (FID) for developing the Hidayah field, located in the North Madura II Contract Area, East Java, Indonesia.
PC North Madura II is the operator with a 100 percent participating interest in its Production Sharing Contract (PSC).
PETRONAS Executive Vice President and Chief Executive Officer of Upstream, Mohd Jukris Abdul Wahab said: “This milestone underscores PETRONAS’ unwavering commitment to supporting the Government of Indonesia’s target of achieving energy self-sufficiency. We are grateful for the continued support of the host authority and look forward to close collaboration as we progress the Hidayah field development.”
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.
PETRONAS Vice President of International Assets of Upstream, Mohd Redhani Abdul Rahman said, “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.”
