Gulf Oil and Gas accountACCOUNT

Premier Oil Awarded the Andaman II Licence, Indonesia

Source: www.gulfoilandgas.com 1/31/2018, Location: Asia

Share |
Further to the announcement by the Government of Indonesia, Premier is pleased to confirm that it, together with its joint venture partners Mubadala Petroleum and Kris Energy, has been awarded the Andaman II Licence in the 2017 Indonesian Licence Round. The Andaman II licence is located in the underexplored but proven North Sumatra basin offshore Aceh, Indonesia.

Premier has identified numerous prospects and leads which exhibit DHIs (direct hydrocarbon indicators) on the existing 2D seismic data, significantly de-risking a potentially material gas play. Premier assesses that the overall licence has the potential for significant gas volumes which, in the success case, would be delivered to existing gas consumers in North Sumatra.

The forward plan is to acquire 3D seismic in the initial three year term.

Tony Durrant, CEO, commented: ‘This award is in line with Premier’s strategy of targeting low commitment high impact exploration in proven hydrocarbon provinces and has the potential to deliver significant organic growth opportunities for our existing Indonesian business in the longer term.’

Notes to editors
The JV comprises Premier (operator, 40%), Mubadala Petroleum (30%), and Kris Energy (30%).

Acquisitions and Divestitures News in Indonesia >>

Ghana >>  2/19/2018 - Aker Energy AS, a 50-50 joint venture between Aker ASA and TRG AS, has entered into an agreement with a subsidiary of Hess Corporation to acqui...
Russia >>  2/19/2018 - PAO NOVATEK (NOVATEK) won the open auction to acquire a 100% stake in Maretiom Investments Limited (owns 100% equity share in Geotransgaz) and 100% of...

United Kingdom >>  2/19/2018 - Baron Oil PLC has entered into an option agreement with Corfe Energy Limited to be assigned part of its rights to farm in to UK North Sea Licence P223...
United Arab Emirates >>  2/18/2018 - On behalf of the Abu Dhabi Government, the Abu Dhabi National Oil Company (ADNOC) signed an agreement with Cepsa, a Spanish integrated oil and gas com...

United Kingdom >>  2/16/2018 - Angus Energy Plc, the conventional oil and gas production and development company, announces that pursuant to the Company’s 22 January RNS it has init...
United States >>  2/15/2018 - Oil Search advises that its acquisition of a 25.5% interest in the Pikka Unit and adjacent exploration acreage and a 37.5% interest in the Horseshoe B...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Indonesia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

Oil & Gas Projects in Indonesia >>

More News

 

Oil & Gas Companies in Indonesia >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.