Shell holds a 49.9% stake in PSP and the sole partner is British independent Premier Oil. Premier acts as operator for the venture while Shell Pakistan continues to manage its downstream operations.
The intention is to swap Shell's interest in PSP for an increased 28% stake in the Bhit gas field being developed by a consortium led by Eni-owned Lasmo. PSP holds 40% equity in the Kirthar block where Bhit is located.
