Premier Drills Successful Well in Pakistan

Premier has made a discovery on the Kadanwari gas field in Pakistan. The Kadanwari gas field is owned by the Tajjal joint venture which comprises ENI Pakistan (M) Limited as operator with a working interest of 18.42%, Premier and KUFPEC with effective working interests of 15.79% each, and Oil & Gas Development Limited with a working interest of 50%.

The operator has drilled the step-out development well in the western Kadanwari field area and has discovered gas at a new reservoir level within the Lower Goru sandstone succession. The K-14 well penetrated a 28m gross gas-bearing section, which has been tested at 15.5 MMscfd. It is being completed for tie-back as a producer.

This discovery significantly increases remaining reserves in the field. Tie back operations are expected to be completed in 2004 and production from this well is expected to commence in 2005.

Charles Jamieson, Chief Executive of Premier, said: 'This discovery is a significant enhancement to the Kadanwari field, adding real value to our portfolio in Pakistan.'