Premier and Kufpec to split Pakistani venture

Jul 18, 2007 02:00 AM

UK independent Premier Oil has entered into an agreement with Kuwait-based explorer Kufpec to separate their respective joint venture interests in Pakistan.
The de-merged field portfolios will now be run as separately owned businesses by Premier and Kufpec.

Premier said it plans to open its own office in Islamabad. The two companies created the Premier-Kufpec Pakistan joint venture in 2001.
On completion of the de-merger, Premier will own its working interest shares in the Kadanwari (15.79 %), Zamzama (9.375 %), Bhit & Badhra (6 %), Qadirpur (4.75 %), and Zarghun South (3.75 %) fields.

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