Premier Oil announced 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.”
Premier has built a dominant position in the Natuna Sea delivering gas into the Singapore under long term gas sales agreements. Premier has also built a sizable acreage position in the emerging South Andaman Sea gas play offshore Indonesia. Initial results from the 3D survey across the Group’s acreage there is encouraging and a two well drilling programme is expected to commence in 2021 which could de-risk a multi-TCF gross potential gas play.
Premier Oil, based in London, is a leading independent exploration and production company with oil and gas interests in the North Sea, South East Asia, the Falkland Islands and Latin America.
(Source and image: Premier Oil)