Premier Oil plc (LON: PMO) has announced that it has achieved First Gas from its operated Bison, Iguana and Gajah Puteri (BIG-P) project in the Natuna Sea Block A offshore Indonesia. The two-year project was delivered on schedule and significantly below budget.
Premier expects BIG-P’s recoverable reserves to be in excess of the 93 BCF (gross) estimated at sanction as a result of the successful three-well drilling campaign which encountered additional productive sands.
BIG-P production ties into the existing Natuna Sea Block A infrastructure, also operated by Premier, and supports the Company’s long-term gas sales contracts into Singapore.
Tony Durrant, Premier Oil plc Chief Executive, commented:
“This is further evidence of Premier’s ability to execute full cycle projects from exploration through to production. BIG-P increases the deliverability from our operated Natuna Sea Block A enabling us to meet a growing market share within our existing gas contracts.”