Premier Oil PLC completed farm down of its interest in the Tuna production sharing contract (PSC), offshore Indonesia, to ZN Asia Ltd., a subsidiary of Zarubezhneft, following receipt of Indonesian government approval.
Under the agreement, Zarubezhneft will carry Premier for its share of a two well campaign to appraise Tuna discoveries, scheduled to begin in this year’s second quarter.
The companies have secured Indonesian government approval for a 1-year extension of the Tuna PSC exploration period to March 2022.
In April 2014, Premier drilled the Kuda Laut-1 exploration well which discovered 183 ft of net oil-bearing reservoir and 327 ft of net gas-bearing reservoir (OGJ Online, Apr. 28, 2014). Oil and gas samples were also recovered to surface. The well was then sidetracked to drill a prospect at Singa Laut in an adjacent fault block where 177 ft of net gas-bearing reservoir quality sands were penetrated.
Premier remains operator of Tuna (50%) with Zarubezhneft holding the remaining 50%.