Malaysia's Petronas discovers oil at Indonesia's Hidayah-1 exploration well

KUALA LUMPUR (Reuters) - Malaysia state oil firm Petroliam Nasional Berhad, or Petronas, on Wednesday 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 approximately 2,100 BOPD (barrels of oil per day) with good crude quality," Petronas said in a statement.

It 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.

(Reporting by Mei Mei Chu, editing by Louise Heavens)