PGN Saka Officially Secures Extension for Ketapang Working Area Contract with Petronas

Saka Energi Indonesia (PGN Saka), through its upstream oil and gas subsidiary PT Saka Ketapang Perdana, officially received an extension for the Production Sharing Contract (PSC) for the Ketapang Working Area (WK Ketapang) located in the Java Sea. The extension was granted in collaboration with Petronas Carigali Ketapang II Ltd. (PCK2L), the operator of the area. The current contract for WK Ketapang was set to expire in 2028 and has now been extended for an additional 20 years.

The contract extension was signed by the 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, during the 48th IPA Convention and Exhibition 2024 at ICE BSD on Tuesday, May 14, 2024.

“WK Ketapang has great potential going forward. With the trust granted through this PSC extension, it will certainly boost production and revenue for the company by optimizing the assets we already possess,” said Medy.

As part of the agreement, two exploration wells will be drilled as part of the firm work commitments (KKP) in WK Ketapang. The extension of the WK Ketapang contract was officially granted by the government on December 21, 2023, with a participation interest of 19.4% for PGN Saka, the same as the previous contract.

“We hope to proceed with the drilling of the agreed exploration wells. If successful, this will add resources to the area, and we will continue to develop those wells,” Medy explained.

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