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Petronas moves forward with oil field type in Indonesian waters

Dwelling Fossil Energy Petronas moves forward with oil field type in Indonesian waters

January 17, 2025,
by

Melisa Cavcic

PC North Madura II, a subsidiary of Malaysia’s negate-owned vitality player Petronas, has confirmed a closing funding resolution (FID) for an oil field within the North Madura II contract dwelling, East Java, Indonesia.

Illustration; Provide: Petronas

The FID comes a twelve months after SKK Migas, Indonesia’s oil and gasoline regulator, confirmed the inexperienced light for a type conception related to the Hidayah oil field, with approximately 88.55 million stock tank barrel oil reserves. In step with the type conception, the sphere will come into operation in early 2027, with an preliminary manufacturing of 8,973 barrels of oil per day. The pinnacle manufacturing of 25,276 bpd is expected to be reached in 2033.

Mohd Redhani Abdul Rahman, Petronas’ Vice President of Global Assets of Upstream, highlighted: “Reaching the FID for the Hidayah field is a prime milestone for Petronas in Indonesia. This success builds on the momentum of our promising oil discovery within the North Madura II contract dwelling in 2021, paving the system for us to play a more strategic unbiased in supporting the gap’s rising vitality wants.”

Because the operator and owner, Petronas has a 100% hobby within the Hidayah manufacturing sharing contract (PSC). The kind conception encompasses the drilling of oil manufacturing wells, supported by an unmanned constructed-in wellhead and central processing platform. The conception entails a floating storage and offloading (FSO) unit with residing quarters and a central control room.

Mohd Jukris Abdul Wahab, Petronas Govt Vice President and Chief Govt Officer of Upstream,commented: “This milestone underscores Petronas’ unwavering dedication to supporting the govt. of Indonesia’s purpose of carrying out vitality self-sufficiency.”

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The Malaysian big operates the Ketapang, North Madura II, and North Ketapang PSCs offshore East Java, alongside the Bobara PSC offshore West Papua. The company is additionally a joint project accomplice in 5 PSCs spanning onshore and offshore Sumatra, the Natuna Sea, East Java, and East Indonesia.

Given the rising vitality transition momentum, Petronas is wrathful by increasing its world footprint while exploring lower-carbon initiatives to aid sustainable vitality type. Closing week, the company, through Malaysia Petroleum Management (MPM), in collaboration with Beicip Franlab Asia, embarked on an constructed-in basin spy.

This spy, which leverages superior 4D modeling and machine learning technologies to investigate the subsurface architecture at both basin and reservoir scales, will discover untapped resources within the Malay Basin, positioned off the cruise of Peninsular Malaysia.

Petronas’ spy is fascinated about predicting hydrocarbon migration and entrapment by harnessing mountainous records from the Malay Basin, where over 9 billion barrels of oil same procure been produced since the Seventies. A batch of most standard exploration activities procure additionally yielded more discoveries.

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As such discoveries are interpreted to highlight the basin’s continued possible, the Malaysian player is convinced this basin gifts mountainous opportunities beyond hydrocarbons, equivalent to for carbon hold and storage (CCS), positioning it excessive on the sustainable vitality type chain.

Azmir Zamri, Senior Traditional Supervisor of Helpful resource Exploration at MPM, pointed out: “The Malay Basin, on the total considered as feeble, mild holds well-known untapped possible, as demonstrated by discoveries equivalent to Bunga Aster and Bekok Deep.

“Thru our collaboration with Beicip Franlab Asia on the Integrated Basin Take into memoir and our AI-enabled geophysical initiatives with Earth Science Analytics, we purpose to redefine what is that you doubtlessly can imagine and release fresh opportunities in this prolific space.”

In accordance with its purpose to drive growth through sustainable vitality initiatives and its purpose to end rep-zero carbon emissions by 2050, Petronas is portion of a joint alternate partnership (JIP) to step up carbon hold, utilization, and storage (CCUS) initiatives.

The agency took the closing funding resolution to electrify the Kasawari CCS project, mentioned to be Malaysia’s first offshore CCS project, on the tip of 2022, adopted by the award of the EPCIC contract to Malaysia Marine and Heavy Engineering (MMHE).

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