UK Premier sells Norwegian business for $120m
Premier has quit Norway, selling assets to Det norske oljeselskap in a cash deal worth $120m
The deal represents another step in Premier's previously-stated programme of portfolio management and will pay down the company's debt, it said. The transaction is subject to government approval and is expected to complete by year-end. Premier's chief executive Tony Durrant said the team in Norway had done an "excellent job in bringing the Vette [formerly Bream] project close to a sanction decision in a low oil price environment. The transaction will realise immediate value from the project as part of our strategy of active management of our portfolio." Other assets include the adjacent Mackerel and Herring discoveries (50%); a non-operated interest in the Froey field (50%); and seven explor
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
