LONDON: Premier Oil Plc has signed sale and purchase agreements (SPAs) with BP for the acquisition of BP’s interests in the Andrew Area and its Shearwater assets, reflecting the amended terms announced by the company on 5th June. This follows the receipt of creditor approval for the BP Acquisitions. The BP Acquisitions remain conditional on…
Tag: Premier Oil
Premier to acquire Andrew Area and Shearwater assets from BP
LONDON, UK: Premier Oil Plc has announced proposed acquisitions of the Andrew Area and Shearwater assets from BP for US$625 million, and an additional 25 percent interest in the Premier operated Tolmount Area from Dana for US$191 million plus contingent payments of up to US$55 million. The proposed acquisitions will be funded via a US$500…
Premier Oil achieves first gas from BIG-P project
LONDON, UK: Premier Oil Plc has achieved first gas from its operated Bison, Iguana and Gajah Puteri (BIG-P) project in the Natuna Sea Block A offshore Indonesia. Premier expects BIG-P’s recoverable reserves to be in excess of the 93 BCF (gross) estimated at sanction as a result of the successful three-well drilling campaign which encountered…