Premier Oil will announce a second reserves upgrade for its Catcher oilfield in the UK North Sea at the end of the year, Chief Executive Officer Tony Durrant told Reuters on Thursday.
The field has reached a plateau production rate of 70,000 barrels of oil equivalent per day, Durrant said in a telephone interview after Premier reported a rise in first-half profit.
"We're certainly working off higher reserves numbers. We will generate another reserve upgrade at year end, we already upgraded last year," Durrant said regarding Catcher.
(Reporting by Ron Bousso; editing by Jason Neely)