Saka Energi plans output growth of 5-10% next year

Upstream company PT Saka Energi Indonesia, a subsidiary of IDX-listed gas distribution firm PT PGN Tbk, aims to increase oil and gas production next year by 5-10 percent, Bisnis Indonesia reported on Friday.

The paper quoted Saka President Director Tumbur Parlindungan 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, the paper said.

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. (*)