Premier inks gas sales agreement

Further to the signing of Heads of Agreements for gas sales from their operated West Natuna Sea Block A in Q4 2007; Premier Oil announce that three fully termed Gas Sales Agreements have been signed in Jakarta.

The three contracts are with Sembcorp Gas Pte Ltd. (Sembcorp), PT Pelayanan Listrik Nasional Batam (PLN) and PT Universal Batam Energy (UBE) for a total volume of 125 billion British thermal units per day (“BBtud”) with options for a further 13 BBtud.

The contracts are “life of field” contracts and deliveries are expected to commence from the Gajah Baru field on West Natuna Sea Block A, offshore Indonesia in 2010.