Premier Oil to Start Gas Production at Indonesian Field

12 April 2011 (Last Updated April 12th, 2011 18:30)

Gas production from Premier Oil's Gajah Baru field in Indonesia is expected to start in six months' time after a short delay. The company, which holds a 29% interest in the field, also noted that production from its Chim Sao field in Vietnam (in which it holds 53% interest) is online,

Gas production from Premier Oil’s Gajah Baru field in Indonesia is expected to start in six months’ time after a short delay.

The company, which holds a 29% interest in the field, also noted that production from its Chim Sao field in Vietnam (in which it holds 53% interest) is online, reports Reuters.

The Chim Sao offshore oilfield has reserves in excess of 50 million barrels and is expected to produce an output of 25,000 barrels per day of crude similar to Vietnam’s light sweet Bach Ho grade.

Premier Oil Asia director Robin Allan said Asian gas and oil markets represent a major portion of the company’s future growth potential, with 75,000 barrels of oil equivalent per day in 2010 from 42,800boe the previous year.