ASIATODAY.ID, JAKARTA – Malaysian oil and gas company Petronas is ready to pursue the on stream target of the Hidayah Field in the North Madura II Working Area by the end of 2026.
Vice President of International Assets of Upstream Petronas Hazli Sham Kassim said the company’s investment of US$ 3.5 billion in working on the Hidayah Field was a commitment to cooperation with Indonesia.
“This is proof of Petronas’ long-term commitment to Indonesia. The strong relationship between Malaysia and Indonesia gives this project deep meaning, positioning it as a stepping stone for future growth in this region,” said Hazli at the Final Investment Decision (FID) Engagement event. For the Hidayah Development Project Petronas Indonesia in Jakarta, Thursday, January 9 2025.
Hazli also said that oil production at the Hidayah Field is in the range of 8,973 barrels of oil per day (bopd) and will increase to 25,276 bopd when it reaches peak production. He is also optimistic that he can carry out the project optimally. Moreover, Petronas already has more than 300 reliable workers.
“My background is also as a petroleum engineer. I looked at the data. You know, Hidayah has great potential,” said Hazli.
He also added that the construction of the Hidayah Field is the largest project handled by Petronas Indonesia.
“In my opinion, the Hidayah project is the biggest project since the project we carried out in 2014 to 2016 when I was here,” he said.
On the same occasion, Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Djoko Siswato said that Petronas had approved the final investment decision (FID) for the Hidayah Field on October 30 2024.
The first discovery of the Hidayah field, which is located 7 kilometers north of Madura Island, occurred on January 7 2021 through initial drilling at Hidayah Well 1. Then, PoD I for this field was approved on December 30 2022.
The Indonesian government and Petronas will continue to stick to the on stream target by the end of 2026.
“The SKK Migas and Petronas project management teams need to strictly monitor the achievement of this target so that there are no delays,” said Djoko. (AT Network)
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