Premier reports decrease in Indonesian gas price, production

UK independent oil, gas producer Premier Oil Plc reported on Thursday that its first half 2009 average gas price from Indonesian fields declined sharply to US$8.94 per MCF from 14.25 per MCF in the second half of 2008.

Premier's net working interest production in Indonesia for the first half of 2009 is 11,000 boepd, down from 11,900 boepd the same period a year ago, reflecting a good performance from the Anoa field as a result of strong Singapore demand, offset by a reduction in the Kakap field due to gas compression issues, it said.

Premier is the operator of Natuna Block A PSC which exports gas to Singapore through pipeline. The company also has inetrest in Kakap PSC, which also exports gas to Singapore. (alex)