28 Mar 2019 07:00
PREMIER OIL PLC
("Premier")
Completion of sale of Pakistan business
28 March 2019
Premier is pleased to announce that it has completed the sale of Premier Oil Pakistan Holdings BV, which comprises Premier's Pakistan business, to Al-Haj Energy Ltd. This follows the receipt of necessary approvals and finalisation of working capital adjustments.
In total Premier has received the full consideration of US$65.6 million for the sale including deposits and completion payments paid by the buyer and net cash flows collected by Premier since the economic date of the transaction.
Enquiries |
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Premier Oil plc | Tel: 020 7730 1111 |
Tony Durrant (CEO) Richard Rose (Finance Director) |
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Camarco | Tel: 020 3757 4983 |
Billy Clegg James Crothers
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Notes to editors
Premier's Pakistan business comprised non-operated equity interests in six gas producing fields in Pakistan. In 2018, production from these fields averaged 5.3 kboepd (net to Premier).