4th Oct 2005 07:00
Premier Oil PLC04 October 2005 PREMIER OIL PLC ("Premier") Drilling Update Premier reports the following in relation to its operations in PSC Area Boffshore Mauritania. Tevet-2 Appraisal & Exploration Well The 'Stena Tay' rig drilled the Tevet-2 well to a depth of 3,043 metres wherecasing was set. Drilling has continued towards a planned total depth ofapproximately 3,965 metres and at midnight on the 3 October 2005, the well wasat a depth of 3,692 metres. Chinguetti Development Wells The 'West Navigator' drillship has successfully finished drilling, wellcompletion and flow-testing operations on the Chinguetti development wells. Thedrillship was released from Mauritania at the end of the contract period, on the29 September 2005. The field is due to come on stream in the first quarter of2006 building to a rate of 75,000 barrels of oil per day. Chinguetti FPSO 'Berge Helene' The refurbishment of the Chinguetti FPSO, the 'Berge Helene', was completed on28 September 2005 at the Keppel Shipyard in Singapore. The vessel is currentlyanchored in deep water off Singapore where commissioning activities will beundertaken before commencing the voyage to Mauritania. 4 October 2005 ENQUIRIES Premier Oil plc Tel: 020 7730 1111Tony DurrantRobin Allan Pelham PR Tel: 020 7743 6673James HendersonGavin Davis Background For Editors: Premier Oil plc is a leading independent oil and gas company with producinginterests in the UK, Indonesia and Pakistan and an oil development inMauritania. Exploration and appraisal is ongoing in the UK, South and South EastAsia and Africa. A drilling programme of approximately 12 wells is in place for 2005. Prior tothe Tevet-2 well, two successful wells have been completed earlier this year;the first, a flow test on an appraisal well on the Tiof field in Mauritania andthe second was a discovery and flow test from the Al Amir-1 exploration well inEgypt. Further wells are planned to be drilled later in 2005 and in the firsthalf of 2006 in Mauritania, Indonesia, Guinea Bissau, Vietnam and the UK. The current partners and interests in PSC A and PSC B in Mauritania are: Company PSC A PSC B Chinguetti Exploitation Perimeter1 % % % Woodside 53.846 53.846 47.384BG Group 13.084 11.630 10.234Hardman Resources 24.300 21.600 19.008Fusion Mauritania A3 4.615 - -Premier - 9.231 8.123ROC Oil 4.155 3.693 3.250Groupe Projet Chinguetti2 - - 12.000 1 The Chinguetti Exploitation Perimeter was granted in May 2004 under the termsof the Production Sharing Contract for Area B (PSC B) and contains theChinguetti oil development. The Government of Mauritania exercised its right toparticipate in this area effective from 9 November 2004 and retains the right toparticipate in new developments outside this area. 2 Group Projet Chinguetti is an entity set up to represent the interests of theMauritanian Government in the Chinguetti oil development. 3 Premier will take up 100% ownership of Fusion Mauritania A (currently owned bySterling Energy and Premier) on completion of the transaction announced on 28May 2003. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PMO.L