Premier Oil reaps $147M from asset sales

Premier Oil, a UK-based independent oil and gas company has completed two previously announced asset sales worth $147.5 million in Total.

Premier has completed the sale of its non-operated interests in the producing Scott, Telford and Rochelle fields to MOL Group for a cash consideration of $130 million before interim period adjustments. MOL has assumed the liabilities for future abandonment costs.

Premier has also completed the sale of its 30 per cent stake in PL359, offshore Norway, which contains the Luno II discovery, to Lundin for $17.5 million plus working capital adjustments.

 

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