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.

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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.

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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

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