First Gas from Yetagun Field

abarrelfullabarrelfull wrote on 06 Jun 2012 13:10

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22 Jun 2000

Premier is pleased to announce that gas production has commenced from the Yetagun Field located in the Andaman Sea offshore Myanmar (Burma). The development of the field, under Premier's operatorship, was completed on time and within its US$650 million budget. Gas started flowing from the field on 7 May 2000 and initial gas volumes of up to 70 million cubic feet per day are currently being delivered to the gas buyer, PTT of Thailand. The full take-or-pay contract quantity of 200 million cubic feet per day commences from 1 July 2000 and we expect production to increase to that level in due course.

Charles Jamieson, Premier Oil's CEO said,

"Developing a field of the size and complexity of Yetagun in such a remote location is a considerable achievement. Premier and its partners are delighted to see gas now flowing from the field and look forward to production continuing for the next 20 years."

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