Saka to drill six wells at Fasken block next year

PT Saka Energi Indonesia, a subsidiary of IDX-listed gas distribution firm PT Perusahaan Gas Negara Tbk. (PGN), said that the company and its partner Swift Energy plan to drill six additional wells next year at the Fasken area Eagle Ford shale properties in Texas, the US.

Bisnis Indonesia quoted Saka President Director Tumbur Parlindungan as saying Monday that the rise in the price of shale gas has become a momentum for the joint venture firm to increase drilling activities at the Fasken block.

?In line with the increasing gas price, we have implemented six shale gas drilling (programs), and will continue with six additional wells in early 2017,? he told the paper.

In 2014, Saka set up a joint venture with US-based Swift Energy, in which the former holds 36 percent stake and the latter 64 percent, to develop the Fasken shale gas block, which is estimated to have shale gas reserves of about 1 trillion cubic feet.

Last month, Tumbur told this portal that average shale gas production rate at Fasken had reached 190 mmscfd, compared to the full-year target of 160-190 mmscfd.

Elsewhere, Tumbur told the paper that the 2017 drilling program at Fasken will provide Saka with additional gas output of 72 mmscfd. (*)