Saka to bolster shale gas production in US
Tuesday, April 7 2015 - 01:28 AM WIB
PT Saka Energi Indonesia, a subsidiary of state-controlled gas distribution firm PT Perusahaan Gas Negara Tbk. (PGN), plans to bolster the production of shale gas at its recently acquired Fasken shale gas area in Texas, US.
?Saka Energi will raise the production of shale gas of the Fasken block to reach up to 170-190 mmscfd," PGN's VP Corporate Communications Ridha Ababil said Monday in Jakarta.
He added that the current average production at Fasken block is 120 mmscfd.
Saka?s Operation Director Tumbur Parlindungan reported previously that shale gas production from the Fasken block per March stood at 147 mmscfd.
Ridha explained that the price of shale gas of the Fasken block is now at US$3 per mmbtu. "If the shale gas production is 120 mmscfd, it means that our income will reach approximately $360,000 per day,? he said.
Last year, Saka has signed an agreement to fully develop approximately 8,300 acres of Fasken area Eagle Ford shale properties owned by American firm Swift Energy. Swift Energy sold a 36 percent full participating interest at its Fasken properties to Saka for $175 million in total cash consideration.
Editing by Reiner Simanjuntak