Premier targets power plants<\/p>\n
SINGAPORE (Dow Jones): Oil and gas exploration company Premier
\nOil PLC of the U.K. is targeting East Java power producers to
\nofftake its proven and probable natural gas reserves estimated at
\n450 billion cubic feet in East Java's Pangkah block, Simon
\nLockett, Premier's commercial manager in Jakarta, told Dow Jones
\nTuesday.<\/p>\n
\"We are in the process of negotiating the sale of gas to
\nexisting power producers currently using high-speed diesel and
\nfuel oil for their feedstocks,\" Lockett said.<\/p>\n
The proposed gas feed will substitute state-subsidized fuels,
\nLockett said.<\/p>\n
Premier announced Monday the successful completion of an
\nappraisal drilling program on Ujung Pangkah field.<\/p>\n
The appraisal confirmed reserves for the field of
\napproximately 450 billion cubic feet of high-energy content
\nnatural gas, known rich gas, with the possibility of developing
\nadditional oil from the structure, Premier said in a statement.<\/p>\n
Premier Oil holds a 40 percent majority stake in the Pangkah
\nproduction sharing contract. Amerada Hess (Indonesia-Pangkah)
\nLtd., a unit of Amerada Hess Corp. has a 36 percent share in the
\nventure, while the remaining 24 percent is split equally between
\nGulf Resources Ltd. and Dana Petroleum PLC.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/premier-targets-power-plants-1447893297",
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"sponsor": "Okusi Associates",
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