Premier Oil drops acquisition of further stake in Tolmount project

Premier Oil said on Thursday it will not acquire the additional 25% interest in the Tolmount gas project from South Korea’s Dana Petroleum, while its creditors approved the acquisition of BP’s North Sea assets under the amended terms.

The UK-based oil and gas producer’s creditors have approved the acquisition of the Andrew Area and Shearwater assets after BP last month agreed to discount the price of the North Sea assets it was selling to Premier Oil, the company said.

Source: Reuters

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Published: 02-07-2020