Premier Sells Norwegian Licenses to Cairn

UK independent Premier Oil reported Tuesday that it has agreed to sell its 20-percent interest in Norwegian production licenses PL378 and PL378B to Capricorn Norge – a wholly-owned subsidiary of Cairn Energy for $16 million.

PL378 and PL378B are located in the Norwegian North Sea and they contain the Grosbeak discovery as well as potential extension to the Skarfjell discovery, which is located in PL418 to the north.

Premier Chief Executive Simon Lockett commented in a company statement:

"We are pleased to have agreed this sale as part of an ongoing programme of non-core asset disposals.  We continue to concentrate our efforts on projects where Premier is best positioned to add value."



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours