Celebrating 76th Independence of the Republic of Indonesia, PGN Gas Subholding Pertamina through PGN SAKA Record Additional Oil and Gas Production of 7,300 BOEPD in Pangkah Working Area
Jakarta, Agustus 16, 2021 – Celebrating the 76th Independence day of the Republic of Indonesia, Gas Subholding PT Perusahaan Gas Negara Tbk through its affiliate PT Saka Energi Indonesia (PGN SAKA), a subsidiary in the upstream oil and gas sector, managed to record an increase in hydrocarbon production from the Pangkah Working Area of 7,300 BOEPD. It is recorded from 5,700 BOEPD to 13,000 BOEPD.
The field production is carried out by drilling three wells in the West Pangkah field, namely WPA 1, 2, and 3 and 1 re-entry well (SID-4V) in the Sidayu field. Currently, the drilling program in the Sidayu Field continues to the Sidayu-3ST re-entry, which is expected to add around 1000 BOEPD.
President Director of PGN, M. Haryo Yunianto, explained that PGN always encourages its upstream subsidiary, PGN SAKA, to increase production while exploring other oil and gas sources. Currently, PGN Saka has succeeded in producing 13,000 BOEPD from all of the Pangkah working areas.
In the new development at the Sidayu 4V Well, PGN SAKA also applies new technology to the development of the Sidayu Field with Casing Reconnection Metal To Metal technology on SID-4V re-entry, which runs safely and smoothly. It is a significant achievement because PGN SAKA is the first Indonesian national company in the Asia Pacific to implement this technology. The first drilling activity was carried out at the re-entry of the Sidayu-4V Well in mid-July 2021 while keeping the HSSE aspect prioritized.
"We are grateful that the oil from the Sidayu structure has finally entered the production line," said Haryo.
Haryo continued that the operation of the Offshore Oil and Gas Field shows PGN Saka's commitment. Previously, the West Pangkah Field was producing (February 18, 2021) with a total gas of 27.96 MMSCFD and oil/condensate of 1,290 BBLS from 3 wells.
The development of this project is PGN Saka's contribution to meet the energy supply for Indonesia, including amid a high oil price even though it was full of challenges at first when this project started and during the COVID-19 pandemic. This enthusiasm to contribute makes PGN Saka accelerate the project work time from 17 months to 12 months.
In carrying out its role as Gas Subholding for PT Pertamina (Persero), PGN is committed to becoming a part of the national energy fulfillment from upstream to downstream. Moreover, production in the Sidayu Field also plays a role in helping the government achieve the national oil and gas production target. Hopefully, all these efforts can be a delightful gift for the 76th Independence Day of the Republic of Indonesia.
Currently, PGN SAKA manages 10 Work Areas in Indonesia and a Shale Gas block in the United States. The management in 6 Working Areas as an operator with 100% participating interest in Pangkah, South Sesulu, Wokam II, Pekawai, West Yamdena, and Muriah.