Saka to submit POD for Sidayu field end-Q2 of this year
Thursday, May 4 2017 - 06:26 AM WIB
PT Saka Energi Indonesia, a subsidiary of IDX-listed gas distribution firm PT PGN Tbk, is expected to submit plan of development (POD) for the Sidayu field in Pangkah PSC, offshore East Java, at the end of the second quarter (Q2) of this year following latest oil and gas discovery.
?(POD for Sidayu will be submitted) at the end of Q2 2017,? the company?s Chief Operating Officer Tumbur Parlindungan said to Petromindo.com on Thursday.
Tumbur told this portal earlier that his company has made an oil and gas discovery at the Sidayu-4 exploration well. Following completion of the drill stem test, Tumbur reiterated that the Sidayu field is estimated to hold reserves of 300 million barrels of oil. According to him, that production can start in 2019.
The Sidayu 4 well was spudded in mid-January. In October 2015, Saka announced a significant discovery following the drilling of the Sidayu-3 exploration well on Aug. 17, 2015.
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