10th Mar 2015 08:16
LONDON (Alliance News) - Premier Oil PLC Tuesday said it begun producing gas from the Pelikan field in the Natuna Sea Block A offshore Indonesia on Monday.
Gas production from the Pelikan field follows on from the start of production on the Naga field in the same block in November 2014.
"Pelikan and Naga will deliver additional reserves into the Singapore and domestic market under the company's long term gas contracts," said Premier.
Premier said the two fields together could deliver up to 20 billion British thermal units per day.
The company said the two fields "will allow Premier increased operational flexibility, additional volumes to be supplied to meet growing market share within existing contracts and, when the opportunity arises, to respond to increased Singapore or domestic gas demand."
Premier is the operator of the Natuna Sea Block A, and holds a 28.7% stake in the block, alongside its partners KUFPEC, Petermina, PTT and Petronas.
Premier shares were down 1.4% to 152.84 pence per share on Tuesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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