Throughout 2020, PT Saka Energi Indonesia recorded revenue of US$203.7 million, down from US$374.4 million in 2019 due to lower average selling prices and lifting volumes during the pandemic. Average daily production declined 25.3% to 25.7 mboepd, while total lifting fell 27.4% to 7.5 mmboe. Despite the difficult environment, SAKA reduced operational cash cost to US$102.6 million, but still reported a net loss of US$180.0 million after booking US$78.9 million in asset impairment provisions. Operating cash flow was also negative, mainly due to significant one-off tax payments.
