Saka preparing spud another well in Pangkah
Thursday, January 7 2016 - 01:21 AM WIB
PT Saka Energi Indonesia, a subsidiary of state-owned PT Perusahaan Gas Negara (PGN), is preparing to drill another exploration well in Sidayu field within Pangkah PSC offshore East Java, where the firm recently discovered a huge oil reserve.
?We are preparing to spud another well, that Sidayu 4 well. After that we shall submit Plan of Development (PoD) for the block in June 2016,? Chief Operating Officer Tumbur Parlindungan said in Jakarta.
Last October, Saka announced a significant discovery during the drilling of the Sidayu-3 exploration well on Aug. 17, 2015 with preliminary assessment indicating the reserve amounts 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.
Editing by Johannes Simbolon