JAKARTA, RAKYAT NEWS – The Indonesian government has approved the Final Investment Decision (FID) for the development of the Hidayah Oil Field, located in the North Madura II work area, East Java. This project is managed entirely by Petronas Carigali North Madura II Ltd., a subsidiary of Malaysia’s Petronas.

Djoko Siswanto, Head of SKK Migas, revealed that the Hidayah Oil Field is projected to produce 88.55 million stock tank barrels (MMSTB) of crude oil by 2041. Initial production is expected to reach 8,973 barrels per day (bph), with peak production estimated at 25,276 bph.

“We are committed to ensuring the project remains on track for onstream operations by the first quarter of 2027. Both SKK Migas and Petronas must closely monitor this progress to prevent any delays,” Djoko stated in a press release on Thursday, January 9, 2025.

Mohd Jukris Abdul Wahab, Executive Vice President and CEO of Upstream Petronas, emphasized the company’s dedication to supporting Indonesia’s energy self-sufficiency goals. “We appreciate the full support from the Indonesian government and look forward to close collaboration during the Hidayah field’s development phase,” Jukris said.

The Hidayah Oil Field development plan includes drilling production wells supported by an unmanned production platform integrated with a central processing platform. Additionally, the project will deploy a Floating Storage and Offloading (FSO) unit equipped with residential and central control facilities to ensure safe and reliable operations.

Petronas, through its subsidiaries, operates several work areas in Indonesia. These include the Ketapang, North Madura II, North Ketapang offshore areas in East Java, and the Bobara field off the coast of West Papua.

Beyond its operational areas, Petronas is also a partner in five other production-sharing contracts located onshore and offshore Sumatra, the Natuna Sea, East Java, and Eastern Indonesia. These partnerships underline Petronas’ strategic role in Indonesia’s oil and gas sector.

The Hidayah Oil Field approval underscores the Indonesian government’s commitment to facilitating foreign investment in its energy sector. By working with global energy players like Petronas, the country aims to enhance its oil and gas production capacity while boosting energy independence.

This milestone marks another significant achievement for Petronas, showcasing its operational expertise and its commitment to contributing to Indonesia’s energy security and economic growth. (Uki Ruknuddin)