Premier Oil Sees Impairment Charge and Job Cuts Due to Crashing Oil Prices

By Karolin Schaps LONDON, Jan 14 (Reuters) - Oil producer Premier Oil expects to book a $300 million impairment charge due to the plunge in oil prices and plans to cut jobs and investment to rein in costs, it said on Wednesday. Oil companies across the globe are scrambling to deal with a 60 percent drop in crude prices in seven months, putting them under pressure to find … [Read more...]

BW Offshore to Provide Newbuild FPSO for Catcher Field

In the wake of Bumi Armada's recent announcement surrounding a new FPSO for ENI, rival FPSO services provider BW Offshore announced today a similar Letter of Award from Premier Oil for an FPSO based in the UK North Sea. Located in the central UK North Sea, this new FPSO will initially tie in to 14 producing and 8 water injection wells at the Catcher Oil Field, operated by … [Read more...]