Premier: FID of BIGP gas fields expected late in Q1
Thursday, January 12 2017 - 02:34 PM WIB
British firm Premier Oil plc said on Thursday that the final investment decision (FID) on the development of the Bison, Iguana and Gajah Puteri (BIGP) gas fields in Natuna Sea Block A PSC, offshore Natuna Island, which will support Premier's existing long term contracts into Singapore, is expected later in the first quarter (Q1) of this year.
Premier also said in a statement that its operated Natuna Sea Block A secured an increased market share within its principal gas contract GSA1 of 44 percent (compared to 43% in 2015) against a contractual share of 41 percent and delivered record production under GSA2 of 94 BBtud during 2016. Natuna Sea Block A's contractual share of GSA1 has increased to 47 percent for 2017, it added.
Natuna Sea Bock A PSC is operated and 65 percent owned by Premier with the remaining 35 percent owned by Mitsui Oil Expl. Co.
Editing by Reiner Simanjuntak