Premier progresses Indonesia, Vietnam E&P programs

Offshore staff

LONDON -- Premier Oil has virtually completed 3D seismic interpretation of the Tuna block offshore Indonesia. The company will then focus on prospect selection ahead of drilling two wells in the third and fourth quarters of this year.

Fabrication of the wellhead platform jacket and deck for the Gajah Buru field (Premier 28.67% operator) continues at the yard in Batam. The construction phase was 33% complete at end-2009, slightly ahead of schedule. Development drilling should start in October 2010, and the project is on track to deliver first gas by October 2011, in compliance with the terms of the gas sales contract.

Offshore Vietnam, Premier received formal approval on Dec. 14 from the Vietnamese Prime Minister for its revised development plan for the Chim Sáo field. Construction of the wellhead platform continues in the PTSC yard. At end-2009, the jacket and topsides were respectively 83% and 51% complete.

Conversion of the Lewak Emas FPSO is under way following delivery of the vessel to the yard in early December. Ensco is expected to start development drilling in June. First oil remains on schedule for July 2011.

Premier plans to integrate data from the Cá Rồng Vang well on the eastern side of Block 07/03 with its 2009 3D seismic interpretation. It now proposes acquiring further 3D seismic across the central area of the block, and expects drilling to resume in 2011.

01/15/2010