Petronas Makes New Hydrocarbon Find in Indonesia
Petronas announced a new hydrocarbon discovery in Indonesia's North Ketapang Block, signaling continued opportunities in traditional upstream oil and gas engineering. The company plans further technical evaluations of the area. This reinforces Malaysia's role as a net energy exporter via LNG and petroleum, despite importing crude for refining, emphasizing national energy resilience.
The hydrocarbon discovery was made at the Barokah-1 exploration well, located within the North Ketapang Production Sharing Contract (PSC) area, offshore East Java. Drilling commenced on November 30, 2025, reaching a depth of 3,315.3 meters below sea level. Further technical studies will be conducted to evaluate the well results and determine the discovery's potential. Petronas North Ketapang Sdn. Bhd., a subsidiary of Petronas, operates the North Ketapang PSC with a 51% participating interest. Earthon North Ketapang holds a 34% interest, while PT Pertamina Hulu Energi North Ketapang owns the remaining 15%. The North Ketapang block, secured in the 2021 Indonesia Petroleum Bid Round, spans 3,131.8 square kilometers in waters up to 100 meters deep. This discovery complements the Hidayah Development Project in the North Madura II PSC, which reached its final investment decision in October 2024 after a 2021 oil discovery. Petronas also manages the Ketapang, North Madura II, and Serpang PSCs offshore East Java, and the Bobara PSC offshore West Papua. The company also has interests in six other PSCs in Sumatra, the Natuna Sea, East Java, and East Indonesia.
