FID for Natuna Sea Block A targeted for early 2017
Thursday, August 18 2016 - 11:54 AM WIB
British firm Premier Oil Plc announced on Thursday Front End Engineering Design (FEED) has been completed on the Bison, Iguana and Gajah Puteri projects in Natuna Sea Block A PSC offshore Natuna Islands and a final investment decision (FID) on these projects is targeted for early 2017.
The next generation of developments in Natuna Sea Block A to backfill our existing Singapore and domestic market contracts continue to progress.
Premier has also identified several infill drilling candidates at Gajah Baru and is in the early stages of evaluating other incremental developments, including the deeper Lama play discoveries and water handling and gas compressor reconfiguration projects at both Anoa and Gajah Baru.
Natuna Sea Bock A PSC is operated and 65 percent owned by Premier with the remaining 35 percent owned by Mitsui Oil Expl. Co.
Meanwhile, evaluation of potential development scenarios for the 2014 Kuda and Singa Laut discoveries on the Premier operated Tuna Block, offshore Natuna Islands is ongoing and an application has been made to the regulator to extend the exploration period of the license for an additional two years.
Tuna block is 28.67 percent owned and operated by the firm. The firm?s partners in the block are Kufpec (33.33 percent), Petronas (15 percent), PT Pertamina Hulu Energi (11.5 percent) and PTTEP Netherlands Holding Cooperatie (11.5 percent).
Editing by Johannes Simbolon