During the first quarter of 2023, PT Saka Energi Indonesia recorded revenue of US$129.5 million, up 4.6% year on year. Average daily production stood at 28.9 mboepd, down 15.4% yoy, mainly due to natural production decline and water channeling at the Pangkah PSC. Total lifting increased 4.5% to 2.4 mmboe, supported by Pangkah and Ketapang. SAKA also reduced financing costs through a US$77.6 million shareholder loan repayment. For 2023, the company targeted production of 25–30 mboepd and allocated US$140–150 million in capital expenditure to support organic growth projects.
