Premier Oil embarks on aggressive 2007 drilling campaign in Natuna

UK independent oil, gas firm Premier Oil is expected to commence drilling the Ibu Lembu well in its Natuna Sea Block A PSC soon.

The company said Thursday the well is the second prospect to be drilled by Premier on the Lembu Trend. In 2006, the first Premier operated well to be drilled on the trend, Lembu-Peteng, flowed oil at a stabilized rate of 610 bpd, and two gas zones yielded 8.5 mmscf/d of gas plus 580 bpd of condensate.

The company plans to drill up to six exploration and appraisal wells in Natuna in 2007.

Premier operates the Natuna Sea Block A with a 28.67 percent interest. The other partners in the block are Kufpec (33.33 percent), Amerada Hess (23 percent) and Petronas (15 percent). Premier also has 18.75 percent working interest in the nearby Kakap PSC.

The gas from the block is exported to Singapore through pipeline.

Meanwhile, the company also reported it had been awarded an onshore exploration licence on Buton Island, Sulawesi, by the Indonesian Government and will hold a 30% non-operated equity interest. The committed work programme includes 265km of 2D seismic designed to confirm at depth the structures mapped at surface, and one exploration well. Five leads have been identified on the block to date, the company said. (alex).