Saka Energi looking for partner in South Sesulu PSC
Tuesday, October 13 2015 - 12:56 AM WIB
State owned gas distributor PT Perusahaan Gas Negara (PGN) said on Monday that its upstream subsidiary, PT Saka Energi Indonesia, is considering looking for partner(s) which are capable in terms of finance and technology to develop hydrocarbon discovered in South Sesulu PSC offshore East Kalimantan.
Saka plans to share risks with potential partners in the block, which is a normal practice in the oil and gas business, PGN said, adding Saka will send a proposal on the farmout plan.
Saka has drilled one exploration well in the block, called SIS#A1 and found a gas reserve of 500 billion cubic feet. In order to have its Plan of Development (PoD) for the block approved, however, the firm needs to drill at least two wells. The firm plans to get a PoD approval in 2017.
Saka owns a 100 percent interest in the block.
Editing by Johannes Simbolon