Located within the Ketapang Block, offshore East Java, the well was spudded last September, and drilled to a total depth of 1,890m.
This marks the fourth development phase at Bukit Tua after Phase 1, Phase 2A and Phase 3.
The project expects to generate 12,500 barrels of oil equivalent (boe) per day and 30 million standard cubic feet (mmscf) of gas per day from the five development wells.
Petronas Upstream executive vice-president and CEO Adif Zulkifli said: “As a progressive energy and solutions partner, this achievement demonstrates our commitment to deliver safe and reliable supply of energy to Indonesia. The Bukit Tua Phase-2B project’s first hydrocarbon will play an important role in contributing to Indonesia’s target to achieve one million barrel of oil per day by 2030.”
Petronas, through its two subsidiaries, PC Ketapang II and Petronas Carigali (Ketapang), operates the Ketapang Block with 80% stake. The remaining 20% stake in the block is owned by PT Saka Ketapang Perdana.
Petronas also operates the North Madura II PSC offshore East Java.
Furthermore, Petronas is a joint venture partner in six other blocks, both onshore and offshore, in Sumatera, Natuna Sea, East Java, and West Papua.
The move forms part of the firms’ efforts to retreat from the country, following last year’s military coup.