Premier Oil 1st Half 2014 Operational Review - Vietnam

abarrelfullabarrelfull wrote on 22 Aug 2014 12:34

Strong performance was achieved from Chim Sáo in the first half as Premier continues to deliver a number of projects aimed at maximising operating efficiency. First oil from Dua was achieved in July, extending Premier’s continuing operated success story in Vietnam.

Production and Development
The first half saw a strong performance from the Premier-operated Chim Sáo field, with production averaging 15.8 kboepd net to Premier (2013: 15.2 kboepd) and, in August, Chim Sáo surpassed the milestone of 25 million barrels of oil production (gross). Initiatives to improve the reliability of the Chim Sáo facilities were successfully undertaken in the first half and included the installation of additional power generating capacity on the FPSO and additional accommodation and lifeboat facilities designed to increase the maximum persons on board. In addition, significant maintenance work and upgrades were carried out to the FPSO, including the installation of a new flare tip, during the planned maintenance shutdown in June, which was completed on schedule. Further works are planned for later this year to ensure the improved performance of the FPSO while early scoping activities are under way for the next phase of Chim Sáo infill drilling to increase future production and overall recovery.

The subsea tie-back of the Premier-operated Dua field was completed in June with final tie-ins to the Chim Sáo FPSO to receive Dua hydrocarbons completed safely on schedule during a planned Chim Sáo shutdown in April. First production from the Dua field was achieved in July following the completion of the first development well. The field is capable of producing 8-10 kbopd gross and will extend Block 12W’s plateau production and field life.

Exploration and Appraisal
During the first half, Premier participated in the acquisition of 1,217km of 2D seismic data across the deep water exploration plays in Block 121 in the Phu Khanh Basin. Data processing is under way with results expected in the fourth quarter.

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