15th Apr 2008 11:04
Premier Oil PLC15 April 2008 PREMIER OIL plc ("Premier") Indonesia - Signature of Gas Sales Agreements Further to the signing of Heads of Agreements for gas sales from Premier'soperated West Natuna Sea Block A in Q4 2007; we are delighted to announce thatthree fully termed Gas Sales Agreements have been signed in Jakarta. The three contracts are with Sembcorp Gas Pte Ltd. (Sembcorp), PT PelayananListrik Nasional Batam (PLN) and PT Universal Batam Energy (UBE) for a totalvolume of 125 billion British thermal units per day ("BBtud") with options for afurther 13 BBtud. The contracts are "life of field" contracts and deliveries are expected tocommence from the Gajah Baru field on West Natuna Sea Block A, offshoreIndonesia in 2010. Premier (28.67%) operates Natuna Sea Block A on behalf of its Partners, KUFPEC(33.33%), Hess (23%) and PETRONAS (15%). Simon Lockett, Premier's Chief Executive, commented: "We are delighted to have progressed from Heads of Agreement to fully termed GasSales Agreements in such a short period of time. Indonesian regulatory approvalof the plan of development for Gajah Baru has been received and we will progressthis significant development towards first gas targeted for 2010. Thisunderlines Premier's growth profile to 50,000 boepd by the end of 2010. We are also pleased to note the signing of a Gas Sales Agreement between Medco E&P Malaka and PLN for the supply of 15bbtu/d of gas from North Sumatra Block APSC in Indonesia in which Premier holds a 41.67% stake." 15 April 2008ENQUIRIES Premier Oil plc Tel: 020 7730 1111Neil HawkingsRobin Allan Pelham PRJames Henderson Tel: 020 7743 6673Gavin Davis Tel: 020 7743 6677 Notes to Editors Premier is the operator of Natuna Sea Block A with a 28.67% interest and NatunaSea Block A is a 36.9% owner of the WNTS pipeline. Premier also holds an 18.75%interest in the Kakap field. Since January 2001, Premier has supplied gas from Natuna Sea Block A fordomestic power generation through the WNTS pipeline into Singapore. At present,gas production from Natuna Sea Block A is around 130 BBtu per day. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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