Overview Premier Oil Pakistan Holdings BV (POPH) is a subsidiary of Premier Oil plc, a prominent UK FTSE 250 independent E & P company, with oil and gas interests in Pakistan, Indonesia, Vietnam, Middle East, The North Sea and West Africa. Following recent acquisition of Oilexco North Sea Ltd, global production will be around 50,000 boepd. Premier Oil Presence In Pakistan Premier Oil Pakistan is committed to : Assisting Pakistan to optimize its hydrocarbon development and production; in Pakistan, Premier’s history dates back to 1989. Premier intends to stay and grow its business in Pakistan for the long term. Maintaining best industry practices and environmental standards; our efforts to maintain the highest levels of health, safety and environmental performance standards have been successful and have seen us exceed expectations in several areas. We continue our drive for continuous performance improvement in these areas.

• Corporate Social Responsibility; we work with our joint venture operators to develop and implement community development projects in the areas of operation. The main activities are education and health where the projects are designed to be sustainable and include clinics, schools and water supply schemes. In addition, to promote higher education in the field of oil and gas, a Premier Oil Chair is being funded in the Petroleum Engineering Department of the University of Engineering and Technology.

Premier’s net production in Pakistan in 2009 is 15,340 boepd. The production in 2008 was 14,550 boepd. Premier’s Pakistan production arises from its holdings in the following joint ventures:

Qadirpur
In 2008, Qadirpur field produced an average of 4,060 boepd, from Premier’s working interest of 4.75 %. The Qadirpur plant Capacity Enhancement Project was completed, with its first gas achieved by end January 2009. Apart from the regular processed gas supplies, with effect from 2010, 75 mmscfd permeate gas will also be supplied to SNGPL (for onward supply to Engro Power). Six new production wells were drilled recently to optimize Qadirpur gas sales.
Forecast production for 2009 (Premier net share) is 4,305 boepd.

Kadanwari
Production from Premier’s 15.79% working interest was maintained in 2008 at 1,225 boepd, despite natural field production decline, by bringing two new wells on-stream (K-17, K-18). To maintain and increase the production levels of the field in 2009, K-14ST is currently being drilled, with further wells are planned.
Forecast production for 2009 (Premier net share) is 1,279 boepd.

Zamzama
The Zamzama field produced an average of 6,075 boepd in 2008, from Premier’s 9.375 % working interest. The Zamzama Phase-2 development project was commissioned in 2008 for production of High Calorific Value (HCV) gas, resulting in a production increase in 2008 of 32 % over 2007.
Forecast production for 2009 (Premier net share) is 6,498 boepd.

Bhit/Badhra
Bhit/Badhra production was 3,190 boepd in 2008 from Premier’s 6 % working interest. The Phase 2 development of plant capacity resulted in increased production in 2008 from 270 mmscfd to 320 mmscfd (facilitating first gas from the Badhra field and accelerated production from the Bhit field).
Forecast production for 2009 (Premier net share) is 3,258 boepd.

Zarghun South
In Zarghun South, FEED is currently in progress and first gas is expected in 2010. Premier’s costs pertaining to its 3.75 % interest in Zarghun South are substantially carried by the operator.