Premier updates Indonesian ops

The following is an edited excerpt taken from Premir Oil?s Interim Management Statement released on Tuesday (Ed)

Natuna: Block A, 29%, operator, Kakap, 18.75%)

The Anoa field has performed strongly as a result of good production uptime, meeting high gas demand from Singapore, and compensating for lower volumes from Kakap. Overall Indonesian production is in line with expectations. The rig tender for the development drilling on West Lobe and the Anoa Deep well is now under way. The Anoa Deep well, scheduled for the third quarter of 2009, will target the Lama formation beneath the existing producing Anoa field.

The Gajah Baru EPCI contract was signed on 8th May, with significant savings following retender this year in response to the current oil price levels. Steel for the Gajah Baru wellhead platform has already been delivered and all other long lead items are progressing as planned. First gas is still targeted to be achieved by contractual date of 1st October 2011.

North Sumatra Block A (41,67%)

PSC extension approval for North Sumatra Block A is awaiting Indonesian government approvals. The FEED study is complete and is being reviewed by the partnership. A rig tender process is also under way for drilling on the Alur Siwah and Alur Rambong fields. Workover activity on abandoned oil wells on the block should be complete by the end of June. Wireline logging and flow testing is planned in order to determine next steps.(end of excerpt)