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Indonesia’s Saka Energi to spend up to $200M for 2018 drilling program

JAKARTA (RambuEnergy.com) – PT Saka Energi Indonesia, a subsidiary of gas distributor PT Perusahaan Gas Negara Tbk (PGAS) engaging in the upstream oil and gas, plans to set capital expenditure of US$150-200 million next year. Most of the funds will be used to carry out drilling activities – both developing and appraisal wells — at its oil and gas blocks.

President Director of Saka Energi Tumbur Parlindungan said the funds will be used to drill seven oil and gas wells, consisting of 4 developing wells and 3 exploration wells, located in Pangkah block in East Java, South Sesulu block in East Kalimantan and Wokam II block.

Most of the funds will be allocated to the development of Pangkah block.

Saka holds a 100 percent interest and operatorship of Pangkah PSC and South Sesulu PSC.

The 784 sq. km block of Pangkah PSC is located in the eastern part of the Java Sea. Its water depth ranges from a few feet to 200 feet. Pangkah PSC was previously developed by Hess Corporation of the US, but the US company decided to divest the assets on the back of falling oil price.

The 625 sq. km block of South Sesulu PSC is located offshore East Kalimantan in 30-80 m water depth and holds the recent SIS-A#1 gas discovery. (*)

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