Fire and equipment failures hit production for Premier Oil Catcher field
A fire on board and other equipment failures cut production at the Premier Oil Catcher FPSO by nearly a quarter last year.
A fire on board and other equipment failures cut production at the Premier Oil Catcher FPSO by nearly a quarter last year.
Premier Oil is in "final negotiations" with contractors ahead of an investment decision being made on the proposed Tolmount East development.
Premier Oil expects to book charges and impairments of up to ยฃ480 million, and a 40% drop in revenues, in its upcoming half-year results due to lower oil and gas prices.
Ambitious plans for a new Energy Hub have been unveiled with hopes for hundreds of jobs and to make giant oil and gas fields in the West of Shetland "net zero by 2030โ.
Record levels of production from its North Sea assets were not enough to halt a drop in pre-tax profits for Premier Oil in 2019.
Welcoming a new year heralds a time for reflecting on the year that was and what is to come.
UK-headquartered Premier Oil said today that its debt pile was shrinking faster than expected.
Premier Oilโs chief executive said yesterday the firm was โrunning hotโ as it posted its first set of profitable results since 2013.
Premier Oil said today that it returned to profitability in 2018 as group production reached record levels.
Lerwick Harbourโs strategic location has been the building block for its huge contribution to the development of east Shetland Basin oil fields over the past 50 years.
Premier Oil would be โmore than happyโ for the infrastructure on its Solan field to play a part in Hurricane Energyโs plans west of Shetland, its boss said yesterday.
Premier Oilโs chief executive said yesterday that he hopes to have the firmโs balance sheet โback in shapeโ in a year with the help from the โunusualโ Catcher area.
Premier Oil boss Tony Durrant said yesterday the North Sea operator was โahead of plansโ to restore its financial health after notching up record first-half production levels.
Premier Oil chief executive Tony Durrant enjoyed a ยฃ360,000 boost to his overall pay package in 2016.
North Sea operator Premier Oil today announced that its private lenders had agreed to the terms of its long-awaited debt refinancing.
North Sea operator Premier Oil announced a further deferral of lendersโ covenant tests yesterday as it continues to negotiate a refinancing.
Bosses at Premier Oil said yesterday that lenders were unlikely to block the firmโs plans to invest in new development projects.
Production from Premier Oil's Solan field was reportedly shut down for three days last month amid safety concerns.
Late and over budget, the Solan development west of Shetland gave rise to a lot of โsoul searchingโ at Premier Oil, the firmโs boss has admitted.
Details of a deal between Premier Oil and its lenders over the North Sea explorer's debt pile are expected to come out tomorrow.
North Sea producer Taqa said global oil and gas operations maintained โrobustโ levels of output during the first quarter despite significant cuts in capital expenditure.
A west of Shetland oilfield that has cost its operator more than ยฃ1.2billion to develop has missed another target date for production start-up.
Premier Oil today confirmed first oil from its Solan field had been pushed back until next month.
Premier Oil said its Solan project is on track to produce its first oil by the end of the year off the west coast of Shetland. The company said it was also ready for first oil from the Catcher project in 2017 as it posted its results for the first 10 months of the year. The progress of the Solan field will be โsubject to weatherโ in the UK North Sea.
Premier Oil has cut its operating costs by 30% as a challenging marketplace sees its turnover slide. The firm reported total revenues for the first half of the year topped out at $580million โ down from last yearโs $885million. The dip triggered Premier to cut its operating costs by 30% - down to $150million. The company credited the sale of the โhigh cost Scott area in the UKโ for the part of the savings.