LONDON – Premier Oil’s UK oil production averaged 39,500 boe/d last year, 20% higher than in 2016.
This was mainly due to a full contribution from assets acquired from E.ON (Huntington and Babbage fields), which have performed above expectations.
At the Catcher Area development, which came onstream just before Christmas, the first two production wells have been cleaned up and tested at rates of more than 20,000 b/d each.
Production will ramp up in phases over the next few months with first oil imminent from the Varadero structure, followed by Burgman.
The current output is being deliberately constrained at around 20,000 b/d while commissioning continues of the FPSO’s gas processing modules and water injection systems.
Drilling activities are progressing on Phase 2, with the 14th well now being completed. Premier anticipates total project capex of $1.6 billion, 29% below the sanctioned estimate.
At the Total-operated Elgin-Franklin field in the UK central North Sea, further infill wells are planned this year.
As for Premier’s Solan field west of Shetland, the company is evaluating various options to improve production and reserve recovery.
In December, the company submitted its environmental assessment for the offshore aspects of the Tolmount field development in the UK’s southern gas basin. The onshore assessment should follow shortly: project sanction should follow later this year.
In the same region, BP has completed operations on the Ravenspurn North Deep well (Premier 5% carried). The Rowan Gorilla VII has P&A’d the well and demobilized.
Compiled and Published by GIB KNIGHT
Gib Knight is a private oil and gas investor and consultant, providing clients advanced analytics and building innovative visual business intelligence solutions to visualize the results, across a broad spectrum of regulatory filings and production data in Oklahoma and Texas. He is the founder of OklahomaMinerals.com, an online resource designed for mineral owners in Oklahoma.