Giken Sakata unit secures extension on 2 Indonesian oil fields

GIKEN Sakata's subsidiary PT Cepu Sakti Energy (PT CSE) has secured 10-year extensions for two of its Indonesian oil fields.

The extensions will allow PT CSE to operate in its Trembul and Gabus oil fields until Nov 2, 2020 and Dec 14, 2021, respectively. Both operations can be further extended for another five years.

"Our data have shown that the wells in Trembul and Gabus oil fields are much deeper than the other wells in our portfolio, providing greater potential for the production of oil," said Sydney Yeung, the group's chief executive officer.