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Saka Energi Indonesia Found Oil and Gas Reserves in An Exploration Well Sidayu-4V, Pangkah Block.

PT Perusahaan Gas Negara (Persero) Tbk (PGAS), through its subsidiary PT Saka Energi Indonesia (SEI) once again found oil and gas reserves in an exploration well Sidayu-4V, Pangkah Block, offshore East Java. This exploration activity has been carried out to to follow the discovery of oil and gas in the exploration well Sidayu-3ST1 last year, and proved that the extention of oil and gas baring reservoir (Tuban, Kujung-1 and Ngimbang) in Sidayu structure. The potential oil and gas resources of the Tuban, Kujung-1 and Ngimbang layers along the JS-1 (JS-1 Ridge) is estimated in the range of 300 million BOE.

The discovery of oil and gas reserves Sidayu-4V is the final stage of exploration of Sidayu structure then Saka will proceed to submit Plan Of Development (POD). Saka expects a significant contribution from the Sidayu field production in 2020.

Currently, the production of the Pangkah block comes from Ujungpangkah field. Sidayu will be the second field that will also utilize the same production facilities as what Ujungpangkah field has. This successfull discovery encourages Saka to continue its exploration activities to realize the potential of oil and gas resources that have been identified in several prospects with drilling work in the north and west of Pangkah Block in 2017-2018.

The development of the next field that to be found by the end of 2018 is expected to be on production stage in 2022.

At this moment, PT Saka Energi Indonesia (SEI)’s portfolio includes three working areas operated by its subsidiaries: Pangkah PSC, South Sesulu PSC and Wokam II PSC.

The Pangkah working area is located offshore of eastern Java Sea, the South Sesulu working area is in the offshore East Kalimantan, and Wokam-II PSC, located between the Aru Islands and Papua was acquired 3 months ago. Saka is currently maturing Geological and Geophysical study then will continue with drilling of the first exploration well at the end of 2017.

Other than that Saka has participating interests in a number of non-operating working areas, some of them are producing fields, namely: Ketapang PSC, Southeast Sumatra PSC, Muriah PSC, Fasken area and Bangkanai PSC; while Muara Bakau PSC is under development stage, West Bangkanai PSC is still in the exploration stage.