Premier Oil in discussions to sell Pakistan assets

Premier Oil is considering selling its Pakistan assets following the receipt of an “attractive” offer from an unnamed party, according to Reuters, which cited Premier CEO Tony Durrant.

Reuters noted that analysts at RBC have estimated that the Pakistan assets are worth approximately $150 million. Following the receipt of the offer for Premier’s Pakistan business, the company is initiating a process among the interested parties with a view to a possible disposal of Premier’s Pakistan interests.

In other company news, Andrew Lodge retired as exploration director on June 30. Dean Griffin, previously Premier’s exploration geoscience manager, has been appointed head of exploration and will report to Robin Allan, who retains responsibility for the North Sea and Pakistan business units. Responsibility for the South East Asia business units has transferred from Robin to Neil Hawkings, who retains responsibility for the Falkland Islands business unit.

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