Premier Oil announces forecasted oil output for 2020

Oil&Gas Materials 7 January 2020 18:48 (UTC +04:00)
Premier Oil announces forecasted oil output for 2020

BAKU, Azerbaijan, Jan.7

By Leman Zeynalova – Trend:

The production of the UK-based Premier Oil company is estimated at 78.4 kboepd (thousand barrels of oil equivalent per day), Trend reports citing the company.

Premier Oil said its 2020 production is expected to average 70-75 kboepd, before any contribution from the acquired assets separately announced today.

“UK production averaged 54.2 kboepd during 2019, a 16 percent increase on 2018, driven by a full year contribution from the Catcher Area at increased rates. The Catcher Area continued to outperform during 2019, averaging 33.6 kboepd (net, Premier 50 per cent interest) and achieving excellent operating efficiency,” said the company.

This is while the Elgin-Franklin Area produced 6.0 kboepd (net, Premier 5.2 per cent interest) ahead of expectations.

“Production was supported by well intervention and infill drilling campaigns, including the F12 infill well, which was placed on-stream in December. Huntington production averaged 5.8 kboepd (Premier 100 per cent interest),” reads the report issued by Premier Oil.

Premier said it continues to discuss with the FPSO provider an extension of field life beyond April 2020.

“Premier’s operated Solan field delivered 3.5 kboepd (Premier 100 per cent interest). A rig has been contracted to drill a third producer (P3) in the central northern part of the field, targeting an unswept part of the reservoir. The well is expected to spud during the first half of 2020 and once on-stream is anticipated to provide a significant step up in production levels from the Solan field,” said the company.

In the Southern Gas Basin, the Borr Prospector-5 jack up rig has been contracted to drill two horizontal wells on Ravenspurn North, commencing later this quarter, according to Premier Oil.

The wells will access gas in undrained areas of the field with the aim of extending field life to 2028, said the company.


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