Premier's Indonesian exploration well is a dud

Oil and gas firm Premier Oil is to plug and abandon the Biawak Besar-1x exploration well in Indonesia.

The group said the drilling logs showed better than expected sand quality, but the sands were water wet.

The results of the well will be incorporated into the existing 3D seismic database, the group said.

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Premier has a 28.67% stake in the Natuna Sea Block A in which the abandoned well is located.

Elsewhere in Indonesia Benteng-1, a frontier exploration well on the Buton Block is currently drilling and the results are expected in June. Premier has a 30% stake in this well.

JH