Kyle Field Update

abarrelfullabarrelfull wrote on 06 Jun 2012 13:18
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23 Oct 2000

Premier is pleased to announce that agreements for life of field development of the Kyle field (in which Premier has a 35% interest) were concluded on 20 October 2000. The agreements were signed by the Kyle field owners, Shell UK Limited on behalf of the Curlew field owners and SEGAL owners, and Maersk Contractors, owner and operator of the Curlew Floating, Production, Storage and Offloading ("FPSO") facility.

Under the terms of the agreements, production from the Kyle and Curlew fields will be processed by the Curlew FPSO facility with gas being transported through the Fulmar system for sale in the UK. Subject to regulatory consents and approvals, first oil from the Kyle full field development is planned for March 2001.

The Kyle 29/2c-13 appraisal well, which was spudded on July 16, 2000, was recently completed and tested in the northeast sector of the field. The well produced 10,600 barrels of oil per day under facilities constrained conditions. Technical analysis of the test data indicates that this well has the potential to deliver in excess of 20,000 barrels per day.

The Kyle 29/2c-12z Extended Well Test ("EWT") is continuing and the well has produced approximately 1.4 million barrels of oil to date. Current production is being controlled at about 5,500 bopd and it is expected that the EWT will be completed by early November at which time a total of 1.5 million barrels will have been produced. The 29/2c-12z and the 29/2c-13 wells will be tied in to the Curlew FPSO via an 18 kilometre pipeline.

Charles Jamieson Premier's CEO, commented:

"I am delighted that we have reached agreement to take Kyle production over the Curlew facilities and look forward to the significant contribution that the field will make to production and cashflow. This further underlines the operational progress that Premier has made this year.


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