Cairns: Catcher Operational Update
Wednesday 24 January 2018
The enclosed announcement has been reported by Premier Oil plc (Operator) with regards to the Catcher development in which Cairn has a 20% working interest.
Premier is pleased to provide the following update on its operated Catcher Area development, which was successfully brought on-stream on 23 December 2017.
The first export cargo of Catcher oil of approximately 500,000 barrels was lifted yesterday, earlier than anticipated, and has been sold at a premium to Brent. The second cargo, which is scheduled for the third week of February, has also been sold at a similar premium to Brent.
To date, four production wells – two from the Catcher field and two from the Varadero field – have been brought online. Initial rates from these four producers totalled in excess of 60 kbopd and, as planned, these wells are being deliberately constrained at an average of 20 kbopd whilst final commissioning of the gas processing modules on the FPSO is completed.