Premier takes charge of Solan

Offshore staff

LONDON – Premier Oil has signed a sale and purchase agreement with Chrysaor to acquire equity in UK offshore license P164.

This allows Premier to participate in development of the Solan field west of Shetland for an upfront consideration of $10 million, a further $10 million following project sanction, and a partial carry for the development costs.

Premier will hold 60% equity and become development operator. It will provide a loan to fund Chrysaor’s remaining share of the project costs, which will eventually be repaid via Chrysaor’s share of the revenue.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...