Saka Energi to drill eight wells next year

By Febry silaban

PT Saka Energi Indonesia, an upstream subsidiary of IDX-listed gas distribution firm PT PGN Tbk, plans to drill eight wells in three blocks next year.

CEO of Saka Tumbur Parlindungan said to Petromindo.com that his company will drill one exploration well in the South Sesulu block, offshore East Kalimantan, and Wokam block, offshore West Papua, respectively. It will also drill one exploration well and five development wells in Pangkah block, offshore East Java.

"We will also conduct 3D seismic acquisition in Pangkah block," Tumbur said.

Saka in December of 2014 drilled one exploration well in the South Sesulu block, SIS-A#1, where it struck gas reserves estimated at 500 bcf. Saka owns a 100 percent interest in the block.

Meanwhile, Saka holds 100 percent interest in Wokam block. Saka acquired the block from Murphy Oil in 2015. Murphy had drilled two wells in the block but failed to make commercial discovery.

The Pangkah block, located off the northeast coast of Java, is also 100 percent owned by Saka. The firm bought out the block from American firm Hess Corp in two transactions worth US$915 million executed in 2013 and 2014.

Editing by Reiner Simanjuntak