Premier Oil gives exploration update on East Fyne Appraisal well

Premier Oil has announced that the East Fyne Appraisal well in the North Sea is being plugged and abandoned.

The firm explained that access to the well, which it currently operates, is impaired by 11 feet of gas bearing sand and eight feet of oil bearing sand. And Premier Oil said that the thickness of the sand was at the lower end of the pre-drill estimate.

Going forward, the firm confirmed that the well will be incorporated into the Greater Fyne Area.

Meanwhile, a decision on whether a commercial development is a realistic option is expected to be taken by the end of the second quarter of the year.

The firm has also revealed that the Anoa development well (WL-5x) on Natuna Sea Block A in Indonesia was deepened to a total depth of 11,012 feet.

Premier Oil observed that the exploration was designed to investigate the potential of the Lama Formation, with the firm reporting that it found 300 feet of Lama Formation sandstone.