Malaysia's Petronas makes oil discovery at Hidayah-1 exploration well in Indonesia

Malaysia state oil firm Petroliam Nasional Berhad, or Petronas, on Wednesday said has made an oil discovery at the Hidayah-1 exploration well in Indonesia through its subsidiary PC North Madura II Ltd.

The well, located within the North Madura II Production Sharing Contract (PSC) offshore East Java, encountered an oil-bearing carbonate build-up with good reservoir qualities in the Ngimbang carbonate formation, Petronas said.