Premier Oil PLC First Gas from BIG-P, Indonesia (2402V)

TIDMPMO

RNS Number : 2402V

Premier Oil PLC

02 December 2019

Premier Oil plc

("Premier" or "the Group")

First Gas from BIG-P, Indonesia

2 December 2019

Premier is pleased to announce that it has achieved First Gas from its operated Bison, Iguana and Gajah Puteri (BIG-P) project in the Natuna Sea Block A offshore Indonesia. The two-year project was delivered on schedule and significantly below budget.

Premier expects BIG-P's recoverable reserves to be in excess of the 93 BCF (gross) estimated at sanction as a result of the successful three-well drilling campaign which encountered additional productive sands.

BIG-P production ties into the existing Natuna Sea Block A infrastructure, also operated by Premier, and supports the Company's long-term gas sales contracts into Singapore.

Tony Durrant, Chief Executive, commented:

"This is further evidence of Premier's ability to execute full cycle projects from exploration through to production. 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."

 
 Enquiries 
 Premier Oil plc                    Tel: [phone] 
 Tony Durrant, Chief Executive 
 Richard Rose, Finance Director 
 
 Camarco                            Tel: [phone] 
 Billy Clegg 
  James Crothers 
 
 

Notes to editors

Premier, with a 28.67 per cent interest, operates Natuna Sea Block A on behalf of Kufpec, Petronas, Pertamina & PTTEP.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

MSCDBBDDGBGBGCB

(END) Dow Jones Newswires

December 02, 2019 02:00 ET (07:00 GMT)