First Gas from BIG-P, Indonesia

Premier Oil plc

("Premier" or "the Group")

First Gas from BIG-P, Indonesia

2 December 2019

Premier is pleased to announce that it has achieved First Gas from its operated Bison, Iguana and Gajah Puteri (BIG-P) project in the Natuna Sea Block A offshore Indonesia. The two-year project was delivered on schedule and significantly below budget. 

Premier expects BIG-P's recoverable reserves to be in excess of the 93 BCF (gross) estimated at sanction as a result of the successful three-well drilling campaign which encountered additional productive sands. 

BIG-P production ties into the existing Natuna Sea Block A infrastructure, also operated by Premier, and supports the Company's long-term gas sales contracts into Singapore.

Tony Durrant, Chief Executive, commented:

"This is further evidence of Premier's ability to execute full cycle projects from exploration through to production. BIG-P increases the deliverability from our operated Natuna Sea Block A enabling us to meet a growing market share within our existing gas contracts."

Notes to editors

Premier, with a 28.67 per cent interest, operates Natuna Sea Block A on behalf of Kufpec, Petronas, Pertamina & PTTEP.