Premier Oil has agreed to acquire E.On E&P’s UK North Sea assets for $120 million, writes Rob Watts.
The deal gives the London-listed independent full control of the Huntington field, a stake in Total’s Elgin-Franklin development and operated interests in the Babbage and Tolmount fields in the southern sector.
In a packed trading update released on Wednesday as Upstream went to press, Premier also confirmed it had finalised a deal with SBM Offshore to provide the floating production, storage and offloading vessel destined for the Sea Lion field off the Falkland Islands and that its UK North Sea Catcher project is on track.
However,
