Premier Oil PLC Completion of Tuna farm down (8395M)

TIDMPMO

RNS Number : 8395M

Premier Oil PLC

26 January 2021

Premier Oil plc

"Premier" or the "Company"

Completion of Tuna farm down

26 January 2021

Premier is pleased to announce that it has completed the farm down of its interest in the Tuna PSC, offshore Indonesia to Zarubezhneft. This follows receipt of Indonesian government approval.

Under the farm down agreement, Zarubezhneft will carry Premier for its share of a two well campaign to appraise the Tuna discoveries, scheduled to commence in the second quarter of this year.

In addition, Premier and Zarubezhneft have also secured Indonesian government approval for a one year extension to the exploration period of the Tuna PSC to March 2022.

Premier remains operator of the Tuna PSC, with the Company and Zarubezhneft each having a 50 per cent interest in the licence.

 
 Enquiries 
  Premier Oil plc 
  Richard Rose, Interim Chief Executive, 
  Finance Director 
  Elizabeth Brooks, Head of Investor Relations    020 7824 1116 
 
 Camarco 
  Billy Clegg 
  Georgia Edmonds                                 020 3757 4983 
 

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January 26, 2021 02:00 ET (07:00 GMT)