Premier to make investment decision for Natuna Sea Block A in Q4
Company production in Indonesia up 5% in H1
Wednesday, July 13 2016 - 12:01 AM WIB
British firm Premier Oil Plc said it expects to make investment decision on Bison, Iguana and Gajah Putri gas fields in Natuna Sea Block A PSC offshore Natuna Islands in the fourth quarter of this year.
FEED for the fields were completed last year, the firm said, adding that the project will backfill its existing Singapore and domestic market contracts.
Premier, with a 28.67 percent equity stake, operates Natuna Sea Block A on behalf of its partners KUFPEC, Petronas, Pertamina and PTTEP.
The firm also said in its production in Indonesia averaged 13,800 barrels of oil equivalent per day in the first six months of the year, up 5 percent on the prior period driven by strong gas sales from Natuna Sea Block A into Singapore and continued high market share (44 percent) within its principal gas sales agreement (GSA1).
Editing by Johannes Simbolon