Restui FID Hidayah Field, SKK Migas Asks Petronas To Accelerate On Stream At The End Of 2026

Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Djoko Siswanto. (Photo: Doc. VOI)

JAKARTA - Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Djoko Siswanto asked Petronas to accelerate on stream Hidayah Field in Blok North Madura II which was originally set in the first quarter of 2027 to December 31, 2026.

"We are trying to make it on December 31 next year on stream. To celebrate the new year," said Djoko in his remarks at the FID Engagement for the Hidayah Development Project in Jakarta, Thursday, January 9.

Djoko explained that one of the strategies that SKK Migas will carry out to achieve this target is to simplify a number of licensing, amdal and tender processes.

"The tender process shouldn't take too long, yes, the negotiations," added Djoko.

Djoko explained that the negotiation process usually lasts a long time, because there are repeated negotiations during tenders with business entities. This causes the online process to take longer.

"When the business entity offers a high one, it must be negotiated. Well, sometimes these negotiations take a long time," he said.

Djoko further said that the Hidayah Field, which is managed by Petronas, already has an owner estimate so that the negotiation process does not last long.

The investment value of the project reached 3.5 billion US dollars or around Rp56.78 trillion (exchange rate of Rp16,223).

For information, Hidayah Field is 7 km north of Madura Island, found through drilling the Hidayah-1 well on January 7, 2021.