Premier Oil updates Indonesian operations

The following is an excerpt from independent oil, gas firm Premier Oil Plc?s ?trading and operations update? released on October 5, 2011.

Gajah Baru (Natuna Sea Block A, Premier 28.67%, operator)
The Gajah Baru facilities, located in the Natuna Sea, are mechanically complete. We have yet to commence the export of gas from the field due to unexpected delays in the issuing of certain approvals by the Government of Indonesia.

Under a Gas Sale Agreement approved by the Government of Indonesia in 2008, Gajah Baru is contracted to ship approximately 100 BBTU/d to Singapore after a period of ramp-up of production. An additional 40 BBTU/d of production is dedicated to the Indonesian domestic market on Batam Island.

Premier, together with its partners, is working closely with the Indonesian authorities to finalise these approvals. (end of excerpt)