Salamander in Kalimantan teamwork

Joining forces: Salamander and Saka in Kalimantan

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Steve Marshall

 11 March 2013 09:23 GMT

Asia-focused independent Salamander Energy has brought onboard local player Saka Energi as a partner on an onshore block in Kalimantan, Indonesia under a farm-out deal.

Jakarta-based upstream debutant Saka is set to gain a 30% interest in the Bangkanai production sharing contract in central Kalimantan for a $27 million cash payment and carrying up to $30 million of Salamander’s development costs on the Kerendan gas field.

In addition, Salamander will gain promotes from Saka for drilling of an exploration well at the West Kerendan prospect as well as on a subsequent exploration or appraisal probe.

London-listed Salamander will be left with a 70% operated stake in the PSC following the transaction, which has an effective date of January…

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