Premier Completes North Sea Asset Sales

UK independent producer Premier Oil reported Monday that its $130 million sale, agreed in June this year, of non-operated interests in the Scott, Telford and Rochelle fields in the North Sea to Hungary's MOL Group has been completed. MOL has assumed the liabilities for future abandonment costs of the fields.

Premier said that it has also completed the sale of its 30-percent stake in the PL359 license, offshore Norway, which contains the Luno II discovery.

Sweden's Lundin Petroleum bought the stake in the PL359 license for $17.5 million.



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