Saka Energi spuds Sidayu-4 exploration well in Pangkah PSC
Friday, February 5 2016 - 02:18 AM WIB
PT Saka Energi Indonesia, a subsidiary of state-controlled gas distribution firm PT Perusahaan Gas Negara (PGN) Tbk, has spudded another exploration well in Sidayu field within Pangkah PSC, offshore East Java, where the firm has recently discovered a huge oil reserves.
?Spudding in Sidayu 4 well has been conducted since mid-January,? Chief Operating Officer Tumbur Parlindungan said to Petromindo.com, adding that the drilling will take about 30-50 days.
He said earlier that after the drilling, his firm would submit a Plan of Development (PoD) for the block in June 2016.
In October 2015, Saka announced a significant discovery during the drilling of the Sidayu-3 exploration well on Aug. 17, 2015 with preliminary assessment indicating reserves amounting to 300 million barrels of oil.
The Sidayu discovery is the latest in the string of success made by the firm during exploration in recent years. Five months ago, the firm also announced the discovery of gas at the SIS-A#1 wildcat well in South Sesulu block, offshore East Kalimantan.
The Pangkah block, located off the northeast coast of Java, is 100 percent owned by Saka. The firm bought out the block from American firm Hess Corp in two transactions worth US$915 million executed in 2013 and 2014.
Editing by Reiner Simanjuntak