During the first quarter of 2021, PT Saka Energi Indonesia recorded revenue of US$46.7 million, down 38.6% year on year due to lower lifting volumes. Average daily production stood at 25.7 mboepd, declining 11.8% yoy due to natural depletion, delays at West Pangkah, and the Muara Bakau facility shutdown. Total lifting fell 29.0% to 1.4 mmboe. Despite this, net loss improved 23.4% to US$20.3 million, while cash cost declined 31.6% to US$8.1/bbl and EBITDA margin increased to 60.0%. Operating cash flow remained positive at US$24.9 million.
