Premier Oil updates Indonesian operations
Friday, May 18 2012 - 04:54 AM WIB
Production Operations
| kboepd | 1 January ? 30 April 2012 | 1 January ? 30 April 2011 |
| Indonesia | 14.8 | 10.8 |
Gas demand from Singapore remained strong during the first four months of the year. Under GSA 1, Block A captured a market share of 50.8 per cent against its contractual market share of 36.9 per cent, with the Anoa field continuing to perform well. The deliverability of the reservoir and the platform performance at Gajah Baru continue to meet expectations: the facilities achieved an uptime of more than 99 per cent and all demand from Singapore customers, which averaged 65 BBtud over the first four months, was met. The Gas Swap Agreement has not yet been executed due to the recent withdrawal of the planned gas purchaser. An alternative buyer has been proposed by the Indonesian industry regulator, BPMIGAS, and discussions are expected to be initiated shortly.
Current and future development projects
In Indonesia Anoa Phase 4, which will develop around 200 bcf of undeveloped proven reserves on the Premier-operated Natuna Sea Block A, is expected to be completed in 2013 and preparations are well-advanced for the first phase of offshore construction in July. The Pelikan and Naga projects, also on Natuna Sea Block A, are in the execution phase following the selection of the EPCI contractor and the formal approval of the project by the JV partners. Final government approvals are being sought and are expected to be received shortly. First gas from Pelikan and Naga, which are estimated to have total combined P50 reserves of 150 bcf, is targeted for 2014.
Exploration and appraisal
| Country | Well name | Estimated timing 2012 | License interest (%) | Prospective resource range (mmboe, gross,? low-most likely-high) | Risk |
| Indonesia | Benteng-1 | Q2 | 30.00 | 28-76-139 | High |
| Indonesia | Matang-1 | Q3 | 41.67 | 18-40-73 | Low |
In Indonesia, the Anoa Deep well, which was drilled in February and production tested in March, has opened up a new play for Premier via the discovery of gas in the fractured Lama reservoir on Natuna Sea Block A. The follow-on potential to that discovery is being assessed by Premier and multiple drilling candidates are being matured for 2013 drilling and beyond.
The high risk Benteng prospect on the Buton Block is currently being drilled and the results are expected in early June. Elsewhere in Indonesia, on Block A Aceh, the first exploration well since the award of the new PSC will be drilled at Matang. This low risk well has the potential to unlock a play which, in the success case, would add more than 250 bcf of gas to the existing resource base on Block A Aceh. (end of edited excerpt)