PGN Subsidiary Discovers New Oil Reserves in East Java
· by S. Kalsum
JAKARTA — PT Saka Energi Indonesia, a subsidiary of PT Perusahaan Gas Negara Tbk (PGN) operating in the oil and gas upstream sector, has discovered new oil reserves at the TKBY-2 exploration well in the Pangkah Working Area, offshore northern East Java. Saka holds 100% participation rights in this working area.
TKBY-2 Well Details & Next Steps
The TKBY-2 exploration well reached a final depth of 9,500 feet and successfully identified oil-bearing layers. Based on subsurface data analysis, several flow tests will be conducted to determine the reservoir’s production capacity across the Tuban, Kujung, and Ngimbang carbonate zones stretching from the RGL prospect in the northeast to the TKBY prospect in the west.
South Sesulu Drilling Plan
Saka Energi also plans to commence drilling at the WEST SIS-A#1 exploration well in the South Sesulu Working Area on August 17, 2018. This will be the third exploration well drilled by Saka Energi in South Sesulu, using the company's second Jack-Up rig.
Company Strategy and Outlook
“The successful drilling of TKBY-2 and the upcoming South Sesulu well reflect Saka Energi’s persistence in exploration toward a giant discovery,” said President Director Tumbur Parlindungan. “We are confident that substantial oil and gas reserves can still be unearthed in Indonesia.” He likened the company’s determination to Indonesia’s fighters 73 years ago who fought for independence—hard work and strong determination always yield results. He hopes this discovery will be seen as a Special Independence Day tribute from Saka Energi.
Corporate Portfolio
Saka Energi currently holds participation rights in 12 domestic oil and gas blocks and one overseas block. Seven of these offshore blocks are already in production — Pangkah, Muara Bakau, Bangkanai, Ketapang, Muriah, Southeast Sumatra, and the U.S.-based Fasken block. The remaining five blocks—West Bangkanai, Wokam II, South Sesulu, and the newly won Pekawai and West Yamdena blocks—are in various stages of exploration.
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