Premier renegotiates $625m BP North Sea deal

FINANCIAL TIMES 🔒| Premier Oil has renegotiated the terms of a $625m deal with BP for several assets in the North Sea, ending a bitter legal dispute with its largest creditor.

The oil producer said on Friday it would only pay $210m upfront for BP’s assets in the Andrew Area of the North Sea, a group of fields about 230km north-east of Aberdeen, and its stake in the Shearwater gasfield in the region.

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