During the first half of 2023, PT Saka Energi Indonesia recorded revenue of US$219.2 million, down 28.9% year on year due to lower commodity prices and lifting volumes. Average daily production stood at 28.9 mboepd, declining 16.3% yoy, mainly due to natural decline, water channeling, and operational disruptions at the Pangkah PSC. Total lifting reached 4.5 mmboe. On the financial side, SAKA reduced financing costs through a US$77.6 million shareholder loan repayment and continued its bond liability management. The company also completed drilling of a new Sidayu well in June 2023.
