Premier announces that Premier Oil Norge AS, a wholly owned subsidiary of Premier Oil plc, has been offered participation in five Norwegian production licences in the 2006 APA bidding round, announced yesterday. These awards include Premier’s first operated licence in Norway.
The awards underline Premier’s commitment to build a successful exploration and production business in Norway following on from the five licences awarded in the 2005 bidding round.
The new licences are all located in the Norwegian North Sea and include several blocks close to our existing acreage interests.
Licence Area: Bream Appraisal
Block No: 17/12, 8/3 & 9/1
Working Interest: 20%
Operator: BG
Licence Area: Bream Exploration
Block No: 17/12, 8/3 & 9/1
Working Interest: 40%
Operator: Premier
Licence Area: NE Troll
Block No: 36/10, 31/3 & 32/1
Working Interest: 15%
Operator: Revus
Licence Area: 35/8 part (south)
Block No: 35/8
Working Interest: 15%
Operator: Nexen
Licence Area: 35/9 part
Block No: 35/9
Working Interest: 25%
Operator: Nexen
These licences offer a spectrum of appraisal and exploration drilling opportunities which, in conjunction with our earlier awards, have the potential to meet our objectives for production growth and high impact exploration.
We are particularly pleased to have been awarded an interest in the Bream area which includes an existing oil discovery and two significant prospects in the adjacent exploration area which we will operate.
Simon Lockett, Chief Executive, commented :
“We are delighted with yesterday’s announcement. Since setting out our strategy to return our North Sea business to growth, we have, in a short period of time, built an exciting portfolio of exploration, appraisal and development interests in the Norwegian sector”.
