Written statement to the media
PT Saka Energi Indonesia (PGN Saka), the upstream oil and gas subsidiary of PT Perusahaan Gas Negara Tbk (PGN) again discovered oil reserves in TKBY-2 Exploration Well within Pangkah PSC.
PGN Saka has 100% participating interest in Pangkah PSC.TKBY-2 exploration well drilled by PGN Saka in offshore northern part of East Java has reached its final depth at 9,500 feet. This well successfuly discovered oil in several layers. The result obtained based on the result of subsurface recording’s data analysis through the third of Drill Stem Test (DST). DST was conducted with the aim to get the results economically.
Tumbur Parlindungan, President Director of PGN Saka explained, the DST result has proven the presence of oil in the Tuban, Kujung-1, and Ngimbang Carbonat layers that stretched from RGL Prospect in the northeast to the TKBY Prospect in the west. Drilling activity in TKBY-2 Exploration Well is part of Saka Energi’s contributions of doing exploration towards Significant Discovery and increasing confidence that significant oil and gas reserves can still be found in Indonesia.
The location of the well is around 10 Km from Well Head Platform B (WHP-B) production facilities, where this activity is part of Pangkah exploration major strategy to optimize the existing production facilities so this optimization can be in line with the economic of Pangkah PSC.