Related Articles
Forward article link
Share PDF with colleagues

UK Premier sells Norwegian business for $120m

Premier has quit Norway, selling assets to Det norske oljeselskap in a cash deal worth $120m

The deal represents another step in Premier's previously-stated programme of portfolio management and will pay down the company's debt, it said. The transaction is subject to government approval and is expected to complete by year-end. Premier's chief executive Tony Durrant said the team in Norway had done an "excellent job in bringing the Vette [formerly Bream] project close to a sanction decision in a low oil price environment. The transaction will realise immediate value from the project as part of our strategy of active management of our portfolio." Other assets include the adjacent Mackerel and Herring discoveries (50%); a non-operated interest in the Froey field (50%); and seven expl

Also in this section
Entry deadline nears for Petroleum Economist Awards 2018
19 June 2018
Time is running short to enter industry-leading energy awards
Petroleum Economist and World Oil partner on SPE Offshore Europe 2019 coverage
19 June 2018
Gulf Energy Information publications will work jointly on the daily newspaper at SPE Offshore Europe 2019
Lukoil: bigger than Rosneft
15 June 2018
The investors' darling is prioritising high-margin upstream activities