Saka Energi Indonesia, subsidiary of state-owned gas distributor Perusahaan Gas Negara (PGAS) has set the target for its upstream oil and gas production at 100,000 barrels of oil equivalent per day for the next five years, doubled from current production level. The Company acquired Block Sanga-Sanga in East Kalimantan last year but has no plan for further acquisition this current time. Saka Energi expects to get additional production from blocks under exploration and development such as Pangkah (East Java) and South Sesulu (East Kalimantan). PGAS meanwhile allocates capital expenditure (capex) of US$500 million for this year, of which US$300 million is delivered to Saka Energi.To subscribe please click here
