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Jakarta Post

Premier Oil’s $325m gas project in Natuna sea begins operations

  • Norman Harsono
    Norman Harsono

    The Jakarta Post

Jakarta   /   Tue, December 3, 2019   /   07:10 am
Premier Oil’s $325m gas project in Natuna sea begins operations Workers look at the Pelikan Well head Platform (WP) on the Bison, Iguana and Gajah-Putri (BIGP) gas field in the Natuna sea during a crew change. (SKK Migas/SKK Migas)

After two years of development, the offshore Bison, Iguana and Gajah-Puteri (BIGP) fields in the Natuna Sea A Block recorded a maiden gas production rate of 40 million cubic feet per day (mmscfd) on Nov. 28.

The Upstream Oil and Gas Regulatory Taskforce (SKK Migas) said in a statement on Monday that the project, which required an investment of US$325 million, produced 15 mmscfd of gas from the Bison field and 25 mmscfd of gas from the Iguana field.

“We also conducted an integrated gas channeling test from both [fields], which have a combined 40 mmscfd flow rate — that went well,” said SKK Migas spokesman Wisnu Prabawa Taher, adding that the fields have a combined gas reserve of 93 billion cubic feet (bcf).

SKK Migas estimated in July that the project would attract $171 million in investments, almost half of the actual investment. It was projected to produce 80 mmscfd of gas, double that of Thursday's production.

British oil company Premier Oil, which operates the block, holds a 28.67 percent participating interest while the remaining interest is shared between Indonesia’s Pertamina, Kuwait’s KUFPEC, Thailand’s PTT and Malaysia’s Petronas.

With the BIGP project now operational, SKK Migas has to oversee seven more oil and gas projects slated to be onstream this year.