HOUSTON, TEXAS (Editors at Energy Analytics Institute, 10.Jan.2025) â Petronas subsidiary PC North Madura II Ltd., reached a final investment decision (FID) for the Hidayah field the development, located in the North Madura II Contract Area, East Java, Indonesia.
PC North Madura II Ltd. operates Hidayah with 100% participating interest in its Production Sharing Contract (PSC), Petronas said 10 Jan. 2025 in an official statement.
Petronas did not provide financial details.
The Hidayah 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 said.
Petronas currently operates the Ketapang, North Madura II, and North Ketapang PSCs offshore East Java, as well as the Bobara PSC, offshore West Papua. The company is also a joint venture partner in 5 PSCs spanning onshore and offshore Sumatra, the Natuna Sea, East Java, as well as East Indonesia.
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