Premier: First Catcher cargo lift in January. Varadero, Burgman first oil imminent

Premier Oil’s recently launched Catcher development will soon get contribution from the Varadero and Burgman fields.

The UK-based company brought the North Sea project online on December 23, using the BW Offshore supplied FPSO.

The entire Catcher development entails development of three fields the Catcher, Varadero, and Burgman fields which will be tied back to the FPSO

“The first two production wells from the Catcher field have been cleaned up and tested at rates in excess of 20 kbopd each, in-line with expectations and reflecting initial high productivity,“ Premier said on Thursday.

Premier said that production would continue to be ramped up in phases over the next few months with first oil from Varadero expected imminently, followed by Burgman.

“Current production levels are being deliberately constrained at around 20 kbopd which is ahead of plan, while commissioning of the full gas processing modules and the water injection systems on the FPSO are carried out.

The first export cargo of Catcher oil is expected  to be lifted in late January and has been sold at a premium to Brent. Full production from the Catcher Area of 60 kbopd is targeted in the first half of 2018.

Output on the rise

Providing an update on production levels in 2017, in the UK, production averaged 39.5 kboepd, up 20 per cent on 2016, mainly as a result of a full contribution from the E.ON assets, „which continue to perform above expectations at the time of the acquisition.“

The Huntington field remained the highest producer in the UK portfolio in 2017 averaging 13.0 kboepd.

Full year production, including Premier’s assets in Indonesia, Vietnam, Pakistan, Mauritania, and the UK, was 75 thosand barrels a day, up from 71.2 in 2016.

Production in 2018 from Premier’s existing producing assets is expected to be between 80-85 kboepd reflecting the phased ramp up from the Catcher Area, natural decline in certain of Premier’s fields and the impact of the 2017 Wytch Farm and Pakistan disposals.