Saka Energi plans drilling activities in three blocks next year
Tuesday, December 12 2017 - 05:19 AM WIB
Upstream company PT Saka Energi Indonesia, a subsidiary of IDX-listed gas distribution firm PT PGN Tbk, plans to drill seven wells in three oil and gas blocks next year.
Saka President Director Tumbur Parlindungan said in a statement on Tuesday that the company plans to drill five wells in Pangkah block, East Java Province, comprising of four development wells and one exploration well.
He said that Saka also plans to drill one exploration well in South Selulu block, East Kalimantan Province, and another exploration well in Wokam II block, Papua Province. No further details were provide regarding the planned drilling programs.
According to the statement, last year Saka Energi drilled three wells including one exploration well and two development wells. The company also conducted a number of seismic and G&G studies. It had also obtained in October of this year approval for the plan of development (POD) of the Sidayu field in Pangkah block. The field is targeted to start production in the second quarter of 2019, the statement said.
This portal reported earlier that Saka Energi aims to increase oil and gas production next year by 5-10 percent. Tumbur was quoted as saying, however, that the final output projection will be set once the company has completed ongoing discussion over its 2018 work program and budget.
This year, Saka?s oil and output is estimated at around 57,000 boepd.
Tumbur said that the output growth target will come from the Jangkrik field in Muara Bakau block, offshore East Kalimantan, which started gas production in mid-2017 and currently stands at 600 mmscfd. Saka owns 37.8 percent participating interest in the block.
Additional output will also come from other blocks. Saka owns interest in 11 oil and gas blocks both at home and overseas, but three including South Selulu, West Bangkanai, and Wokam II blocks are still in exploration stage and have yet to start production.
Saka?s producing blocks are Muara Bakau, Bangkanai, Pangkah, Ketapang, Southeast Sumatra, Muriah, Sanga-Sanga, and Fasken. The last is located in the US.
Editing by Reiner Simanjuntak