Saka Energi Indonesia (PGN Saka) through PT Saka Ketapang Perdana, an upstream oil and gas company and an affiliate of Pertamina’s PGN Gas Subholding, officially obtained a contract extension under the Production Sharing Contract (PSC) scheme for the Ketapang Working Area (WK Ketapang) located in the Java Sea, jointly with Petronas Carigali Ketapang II Ltd. (PCK2L) as the operator. The WK Ketapang contract will expire in 2028 and has been extended for another 20 years.
The signing of the Ketapang PSC extension was conducted directly by Minister of Energy and Mineral Resources Arifin Tasrif, Head of SKK Migas Dwi Soetjipto, President Director of Petronas Indonesia Yuzaini MD Yusof, and President Director of PGN Saka Medy Kurniawan at the 48th IPA Convention and Exhibition 2024 at ICE BSD, Tuesday, May 14, 2024.
“WK Ketapang holds good prospects moving forward. By being entrusted with this PSC extension, it will certainly have the potential to increase the Company’s production and revenue by optimizing existing assets,” said Medy.
There are two exploration wells designated under the Firm Work Commitment (KKP) that will eventually be drilled in WK Ketapang. This WK Ketapang extension was granted by the Government on December 21, 2023, with the same participating interest as the previous contract, which is 19.4% for PGN Saka.
“We hope that following this, we can proceed with drilling the agreed exploration wells. If successful, it will add to the resources in that area, and subsequently, we will develop those wells,” Medy explained.