Offshore staff

ABERDEEN, UK --Premier Oil has acquired an additional 20.05% in the Scott oilfield in the UK North Sea from former operator Hess for $52.6 million, lifting its interest to 21.83%.

In December, Premier received notification of Hess' intention to sell this percentage to the field's new operator, Nexen Petroleum. But Premier decided to exercise its rights to pre-emption, under the terms of its existing interests in Scott.

The acquisition adds around 5,000 b/d to Premier's North Sea production.

5/18/2007