Malaysia state oil firm Petroliam Nasional Berhad, or Petronas, on Feb. 24 said it has made an oil discovery at the Hidayah-1 exploration well in Indonesia through its subsidiary PC North Madura II Ltd.
“The well encountered an oil-bearing carbonate build-up with good reservoir qualities in the Ngimbang carbonate formation,” and tested at about 2,100 barrels of oil per day “with good crude quality,” Petronas said in a statement.
The company said results from the Hidayah-1 exploration well, located within the North Madura II production-sharing contract (PSC) offshore East Java, will be further assessed to ascertain its potential.
“The discovery at the Hidayah-1 exploration well marks an important milestone for the North Madura II PSC as it has proven oil potential of carbonate build-up in the area,” said Emeliana Rice-Oxley, Petronas vice president of exploration, upstream.
PC North Madura II Ltd. is the operator with 100% participating interest in the North Madura II PSC.
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