Premier Oil achieves this year's production target

British oil and gas company Premier Oil has successfully increased its gas production from its offshore Anoa gas field in West Natuna Sea to about 175 Billion British Thermal Unit (BBTU) per day, in line with the company's production target for 2005.

The company's senior economist Buyung Heru Satria said in Jakarta on Tuesday that the gas production from the Anoa gas field was within the company's production target of between 170 to 175 BBTU, this year. Last year's production target was between 150 to 160 BBTU.

He said the gas production from the Anoa field is supplied to Singapore's SembGas which has signed a contract to buy about 146 BBTU of gas per day until 2022.

In addition to the Anoa field, Premier is also developing another fields including Bison field, with estimate gas reserve of about 60 billion cubic feet, Pelikan field with estimated reserve of about 120 billion cubic feet, and Gajah Putri with estimate reserve of between 180 to 200 billion cubic feet.

Buyung said that the new fields were prepared to take over the gas supply to Singapore which is solely provided by the Anoa gas field. According to him, the gas production at the Anoa gas field would begin to decline in 2008 or 2009.

"We are also still seeking for new buyers for the additional gas production from these new fields," Buyung said. (dino)