CEO of Premier Oil Tony Durrant said that the company is interested in increasing its 50 % stake in the Catcher oil field in the North Sea which produced its first oil volumes last December, after the reports that Hungarian oil and gas company MOL is planning to sell its 20 % stake in the oil field.
Durrant explained that the acquisition would depend on the structure of the sale. Increased production at the Catcher field would be a key to reducing debt of Premier Oil which now amounts to 2.6 billion dollars. He said that it very reasonable to expect that net debt will fall under 2.3 billion dollars at the end of this year.
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Tags: Catcher, Hungary, Mol, North Sea, offshore, oil, oilfield, Premier Oil