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Premier Oil clarifies Chevron’s North Sea assets acquisition rumour

JAKARTA ( – Premier Oil Plc has issued a statement in response to the press speculation regarding the possibility of the Group making a UK acquisition.

Premier, it said, will continue to look at opportunities to acquire UK North Sea assets in line with the Group’s stated strategy.

“There is no guarantee that the Group will bid in any process, or that any process will complete,” it noted.

Specifically, no firm decision has been taken to bid for all or any of the assets currently being marketed by Chevron and how, in the event that the Group were to be successful, the acquisition of such assets would be financed, the company said.

It added the current operational performance remains strong with production in the first two weeks of January averaging above 90 kboepd.

As reported by a number of UK media over the past few days, Premier Oil was reportedly mulling a giant cash call to fund its bid for a package of oil and gas fields being sold by US major Chevron with an estimated deal value of US$1.5 billion.

Premier Oil has a strong position in South East Asia. In Indonesia, it operates a number of gas fields and supplies gas to domestic as well as South East Asian markets. (*)

Written by Staff Writer, edited by Roffie Kurniawan (Email:

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