Premier Oil Pakistan Holdings BV (POPH) is a subsidiary of Premier Oil plc, a prominent UK FTSE 250 independent E & P company, with oil and gas interests in Pakistan, Indonesia, Vietnam, Middle East, The North Sea and West Africa. Its current global production is around 46,600 boepd.
Premier Oil Presence In Pakistan
Premier’s net production in Pakistan in 2010 was around 14,900 boepd. Premier’s Pakistan production arises from its holdings in the following joint ventures:
In 2010, Qadirpur field produced an average of 3,540 boepd, from Premier’s working interest of 4.75 %. Work has been successfully completed on the WH compression project, initiated in 2009, to counter the natural decline in field deliverability.Work is also ongoing to further augment production levels in the longer term, by installation of additional compression. Two extended reach wells & three additional wells are scheduled during 2011 to maintain supply for the increasing gas demand.
Production from Premier’s 15.79% working interest was 1,740 boepd in 2010, against 1,244 in 2009 due to successful drilling and tie-in of new wells. Exploitation of Tight gas within Kawanwari D&PL is actively been considered.
The Zamzama field produced an average of 6,055 boepd in 2010, from Premier’s 9.375 % working interest. A Front End compression project, costing US$140 million in total, is on schedule for completion in mid 2011, to mitigate the natural decline in reservoir pressure and maintain production levels.
Bhit/Badhra production was 3,560 boepd in 2010 from Premier’s 6 % working interest. A major Wellhead Compression project was undertaken over the past two years to optimally maintain production levels & has been completed by end of 2010.
In Zarghun South, there has been little progress due to marginal economics & current law & order situation. Operator’s strategy now is to approach Government of Pakistan to allow Zarghun gas pricing under the Tight Gas Policy terms. Premier’s costs pertaining to its 3.75 % interest in Zarghun South are substantially carried by the operator.
Premier Oil Pakistan is committed to :
Assisting Pakistan to optimize its hydrocarbon development and production. Premier’s history in Pakistan dates back to 1989; it will remain here and grow its current asset portfolio in the long term with appropriate new E&P opportunities which arise.
Maintaining best industry practices and environmental standards; we have successfully maintained high levels of health, safety and environmental performance, in line with our standards.
Corporate Social Responsibility:- We work with our joint venture (JV) operators to develop and implement community development projects in the JV areas of operation. Apart from that, in 2010 Premier Oil contributed over US$ 250,000 to NGOs managing rehabilitation of those affected by the tragic floods which hit the country. In 2009, we also initiated a project (mainly funded by Premier Oil), in partnership with CDA & Himalayan Wildlife Foundation - to enhance environmental conditions of certain valleys in the Margallah Hills National Park, Islamabad. We also undertook a project, in partnership with CDA & The Rotary Club - for restoration of polluted streams, improving habitats & biodiversity, flora and fauna in the Margallah Hills. To promote education in the O&G sector, Premier Oil has funded a “Chair” since 2008 in the Engineering Dept. of University of Engineering & Technology in Lahore.