No Firm Decision on Chevron Asset Bid for Premier



No Firm Decision on Chevron Asset Bid for Premier
Premier Oil says no firm decision has been taken to bid for 'all or any of the assets currently being marketed by Chevron'.

Premier Oil announced Monday that no firm decision has been taken to bid for “all or any of the assets currently being marketed by Chevron”.

In a company statement posted on its website today, Premier Oil said it will continue to look at opportunities to acquire UK North Sea assets in line with the group’s stated strategy but added that there is no guarantee that the group will bid in any process or that any process will complete. 

Last month, Bloomberg reported that Premier Oil was considering a bid for a package of North Sea oil and gas assets belonging to Chevron.

Back in July, a Chevron spokesperson revealed that Chevron had taken a decision to initiate the process of marketing all its UK Central North Sea assets.

“Chevron regularly reviews its global portfolio to assess whether assets are strategic and competitive for future capital,” the Chevron spokesperson told Rigzone at the time.

“A decision has been taken to initiate the process of marketing all our UK Central North Sea assets … This includes Alba, Alder, Britannia (and satellites), Captain, Elgin/Franklin, Erskine, and Jade,” the spokesperson added.

Chevron's presence in the U.K. North Sea spans more than 50 years, according to the company’s website.



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