International Oil Companies: Premier Oil

Premier Oil logoName: Premier Oil

Based in: United Kingdom

Premier Oil plc (LSE: PMO) is an independent British UK oil company with gas and oil interests in the UK, Asia and Africa.

It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Fields in Iraq: Block 12, which it subsequently assigned to Bashneft (which was taken over by Rosneft):

On 14th December 2015, Premier Oil signed an agreement with Bashneft assigning its participating interest share in Block 12 back to Bashneft, which Premier described as “the current operator“; on 9th March 2017 Premier announced that it had successfully exited its position in Iraq.

From the company’s website:

In November 2012, Premier was formally awarded a 30 per cent non-operated interest in Iraq’s Block 12. Block 12 is a 8,000 square kilometre block in the foreland of the Zagros fold belt up dip from producing fields.

The block has gross prospective resource potential in excess of 1 billion barrels. Premier has significant exploration experience in foreland basins via its history in Pakistan.

Existing seismic data was reprocessed through 2013, and new 2D and 3D seismic data acquired in 2014. Subject to the interpretation of the new seismic data an exploration well will be drilled in late 2016 or early 2017.

For latest news on this company’s activities in Iraq please click here.

A full list of International Oil Companies (IOCs) operating in Iraq under licences granted by the Ministry of Oil in Baghdad can be found here.