Throughout 2023, PT Saka Energi Indonesia recorded revenue of US$453.0 million, down 25.9% year on year due to lower commodity prices and lifting volumes. Average daily production stood at 29.5 mboepd, declining 11.6% yoy, mainly due to natural decline and operational disruptions at the Pangkah PSC. Despite these conditions, SAKA recorded net income of US$11.1 million and operating cash flow of US$177.6 million. Year-end cash stood at approximately US$204 million. The company also continued its liability management through a US$220 million bond buyback and a partial repayment of US$77.6 million in shareholder loans.
