27th Feb 2006 07:00
Premier Oil PLC27 February 2006 PREMIER OIL PLC ("Premier" or "the Company") First Oil in Mauritania Premier is pleased to announce that production has commenced from the Chinguettifield in Mauritania. Premier's share of production from this field is expectedto reach 5,700 bopd by the end of 2006. Simon Lockett, Chief Executive, commented: "The successful development of the Chinguetti field brings onstream a materialaddition to Premier's production portfolio and moves us closer to our mid-termtarget of total production of 50,000 bopd. The first oil from Mauritania'sfirst producing field is a significant milestone for the project, the Governmentof Mauritania and for the joint venture partners." 27th February 2006ENQUIRIESPremier Oil plc Tel: 020 7730 1111Simon LockettTony Durrant Pelham PRJames Henderson Tel: 020 7743 6673Gavin Davis Tel: 020 7743 6677 Background for Editors: The Chinguetti field has been developed by six sub-sea production wells, andfive water injection wells for pressure support with flow lines to a permanentlymoored FPSO, the "Berge Helene". The FPSO has a storage capacity of 1.6 millionbarrels. Water depth is 800 metres. Surplus gas from the field that is notrequired will be reinjected into a nearby reservoir via a single gas injectionwell. The development of the Chinguetti field commenced in 2004. The field is locatedin PSC-B, 90 km west of the Mauritanian capital, Nouakchott. The field hasgross proven and probable reserves of 120 million barrels of oil. Premier'sshare is 8.123%. This is the first field in Mauritania to produce oil. Theother partners in the field are Woodside (47.384%), Hardman Resources (19.008%),Societe Mauritanienne des Hydrocarbures (formerly Groupe Project Chinguetti(12.000%)), BG Group (10.234%) and ROC Oil (3.250%). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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