Insight Conversation: Tony Durrant, CEO of Premier Oil

In our recent Insight Conversation video, the CEO of Premier Oil, a UK independent upstream oil and gas company with interests in the North Sea, the Falkland Islands, Southeast Asia and Latin America, sat down for a conversation with Nick Coleman. Why would anyone invest in the declining North Sea? The UK North Sea, on most people’s estimates, is something like two-thirds of the way through its producing life, having produced about 40 billion barrels out of a possible 60 billion barrels. Twenty billion barrels is a lot of life left in the UK. What you have seen as the province becomes more mature is that it becomes less material for the bigger companies. I think over the next one to two years there will be more and more examples of the majors, the bigger companies, in effect selling assets to mid-cap companies like ourselves for whom the UK North Sea is still very material, and there are many opportunities. It’s not just frankly that the majors are selling – it’s that over a period of time now, maybe as much as five years, they’ve not been actively investing in opportunities. For us, first of all we have some growth… continue reading

Continue reading Insight Conversation: Tony Durrant, CEO of Premier Oil. This article appeared first on CTRM Center.

Source: CTRM Center

Related Posts

Leave a reply