Premier Oil
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Public (: ) |
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| Industry | Oil |
| Founded | 1934 |
| Headquarters | London, UK |
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Key people
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Mike Welton, (ChairmanMokete Shaw ) Anthony R. C. Durrant, (CEO) |
| Revenue | $1,629.4 million (2014) |
| $(248.1) million (2014) | |
| $(210.3) million (2014) | |
| Website | www.premier-oil.com |
Premier Oil plc (: ) is an independent British UK oil company with gas and oil interests in the UK, Asia and Africa. It is devoted entirely to the 'upstream' sector of the industry - the exploitation of oil and gas - as opposed to the 'downstream' refining and retail sector. It is listed on the .
The Company started trading in 1934 as the Caribbean Oil Company with the intention of pursuing oil and gas exploration and production activities in Trinidad. It was first listed on the in 1936 as Premier (Trinidad) Oilfields For the next two decades, the Company concentrated its attention on oil production in Trinidad. The Company acquired its first interest in the North Sea in 1971; it expanded its operations in the UK Continental Shelf throughout the 1970s, merging with the Ball and Collins North Sea Consortium in 1977 to gain significant interests in the North Sea as well as properties in Sudan and West Africa. In 1984, the Company took a 12½% stake in the onshore oilfield at Wytch Farm in Dorset.
In the late 1980s and early 1990s, Premier enjoyed a series of exploration successes, notably the discovery of the Qadirpur gas field in Pakistan in 1990, the Fife and Angus fields in the UK Continental Shelf and the Yetagun gas field in Myanmar in 1992, as well as the offshore extension to Wytch Farm. The Yetagun transaction involved Premier entering into a deal directly with the Myanmar government.
In 1995, Premier acquired Pict Petroleum. As a consequence, Amerada Hess which had a substantial stake in Pict came to hold 25% of Premier's enlarged equity. From this point, Premier was participating in numerous North Sea oil and gas fields, including Fife, Fergus, Galahad and Scott.
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Wikipedia