The Jakarta Globe reported Saka Energi was planning to set aside between $400 million and $450 million to speed up production from a number of blocks, including Muara Bakau in East Kalimantan and Pangkah in Central Java.
Saka holds an 11.7% stake in the Muara Bakau Block and a 100% share in Pangkah. The company currently expects output from the Muara Bakau Block to start in the fourth quarter of 2017.
The newspaper quoted Saka finance director Devi Pradnya as saying the loan would help ease pressure on the finances of parent company PGN.
"Up until now, we finance our capital expenditure using shareholder loans and equity.
