Premier Gets First Gas under Indonesian Swap Deal
Junior energy firm Premier Oil reported Wednesday that it has achieved first gas under a "domestic swap agreement" from its Natuna Sea Block A asset, offshore Indonesia.
The deal sees Premier deliver additional volumes of gas from Natuna Sea Block A to Singapore, which will be swapped with existing supplies from Sumatra to Singapore. The Sumatra volumes will be redirected to the Indonesian gas market.
Gas delivered under the agreement replaces gas previously contracted to Batam Island, Indonesia, from Natuna Sea Block A.
Premier Chief Executive Tony Durrant commented in a company statement:
"We are delighted that our operated Natuna Sea fields are now delivering gas into the Indonesian domestic market as well as into Singapore via this innovative commercial agreement between multiple parties in Singapore and Indonesia."
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