New Gas Discovered in Indonesia, Oil Development in UK

abarrelfullabarrelfull wrote on 20 Aug 2012 09:53

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13 Sep 2000

Premier announces operational success with a further discovery of gas in Indonesia and an agreement to develop the Chestnut oil field in the UK.

Gas discovery in Indonesia

The Premier operated Gajah Baru-1 discovery well has proven gas columns in eight separate reservoir sands in the Arang formation close to Premier's West Natuna Gas project.

The well flowed 40 mmscf/d during testing with the maximum rate constrained by surface equipment limitations. High quality gas samples, similar to those in surrounding discoveries, were recovered from the flow tests and wire line sampling. Certification of the discovered reserves is under way. Following on from the gas discoveries Naga-1 and Iguana-1 and the Ande Ande Lumut-1 oil discovery, Gajah Baru is the fourth successful well drilled by Premier in the West Natuna area this year.

Gajah Baru-1 was drilled to 5,290 feet with the Trident 17 jack-up rig using a slim hole well design which allowed Premier to significantly reduce drilling costs. The rig will now be moved northwards in Natuna Sea block A to drill exploration prospect Betet-1 adjacent to the Ande Ande Lumut discovery.

A number of options are being reviewed for the sale of the newly discovered gas, either through the West Natuna pipeline to Singapore, which runs directly over the Gajah Baru field, or to the Malaysian Duyong platform approximately 35km to the west.

Agreement to Develop Chestnut Field

Premier and its co-venturers in UK block 22/2a have reached agreement with Brovig Production Services Ltd (BPS), a wholly owned subsidiary of Brovig Offshore ASA of Norway for the provision of services for the development and production of the Chestnut Field.

It is anticipated that the field will be developed in two phases, with the first phase comprising an extended well test of a newly drilled horizontal production well with subsea completion. Subject to regulatory consents and approvals, first oil is expected at initial rates of around 15,000 barrels of oil per day by the end of the first quarter 2001.

If sufficient reserves are proved the development is expected to proceed to the second phase in which a water injection well will be drilled and production facilities contracted for an estimated field life of around five years.

BPS will provide drilling and floating production services, and all necessary funding, in return for a service fee paid out of oil production revenues.

Charles Jamieson, Premier Oil's CEO said,

"The agreement to develop the Chestnut field and our four exploration discoveries out of four wells drilled in Indonesia demonstrates the significant operational progress Premier has made this year."

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