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    Premier Achieves First Gas at Indonesian Fields


The three fields lie off the coast of Indonesia's Riau province.

by: Joseph Murphy

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Natural Gas & LNG News, Asia/Oceania, Premium, Corporate, Exploration & Production, Investments, News By Country, Indonesia

Premier Achieves First Gas at Indonesian Fields

Premier Oil has reported first gas at its Bison, Iguana and Gajah Puteri (BIG-P) project off Indonesia on time and “significantly” under budget, the London-based producer said on December 2.

BIG-P is a group of three gas fields situated in the Premier-operated Natuna Sea Block A off the coast of Indonesia’s Riau province, assessed by the company to hold more than 93bn ft3 of recoverable gas. Premier sanctioned the project two years ago.

“This is further evidence of Premier's ability to execute full cycle projects from exploration through to production,” Premier CEO Tony Durrant commented in a London stock exchange filing. “BIG-P increases the deliverability from our operated Natuna Sea Block A enabling us to meet a growing market share within our existing gas contracts.”

BIG-P has been tied to existing infrastructure at Natuna Sea Block A, which also hosts four other gas fields already in production. Gas from the block is delivered via pipeline to Singapore under long-term sales contracts.

Premier has a 28.7% stake in Natuna Sea Block A. Its partners are Malaysia’s Petronas, Thailand’s PTT, Indonesia’s Pertamina and Kuwait’s Kufpec.