Premier Oil updates Natuna discovery

UK independent oil firm Premier Oil PLC announced on Friday the conclusion of testing operations on the operated Lembu Peteng-1 well on Natuna Sea Block A.

A test of the oil zone flowed at a stabilized rate of 610 bpd. A test was previously completed on two of the gas zones, which yielded 8.5 MMCFD of gas plus 580 bpd of condensate, said the company.

The Lembu-Peteng discovery lies approximately 14 km to the West of the producing KH field and there are follow-up prospects on the Lembu trend.

Premier's Chief Executive, Simon Lockett said that the additional hydrocarbons discovered would add to the portfolio of reserves to be commercialized through the second gas sale into Singapore.

A further four exploration and appraisal wells are planned for the Block A and Kakap area for 2006. The results from Lembu Peteng will facilitate the identification of the exploration and appraisal targets.

Premier is the operator of Natuna Sea Block A with a 28.67% interest, and the other partners in the block are Kufpec (33.33%), Amerada Hess (23%) and Petronas (15%).(alex)