Premier Oil Drops Tolmount Deal with Dana

Shanima A
Thursday, July 2, 2020

Premier Oil said on Thursday it will not acquire the additional 25% interest in the Tolmount gas project from South Korea's Dana Petroleum, while its creditors approved the acquisition of BP's North Sea assets under the amended terms.

The UK-based oil and gas producer's creditors have approved the acquisition of the Andrew Area and Shearwater assets after BP last month agreed to discount the price of the North Sea assets it was selling to Premier Oil, the company said.

 (Reporting by Shanima A in Bengaluru; Editing by Shailesh Kuber)

Categories: Energy Mergers & Acquisitions Industry News Activity Europe

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