Premier Oil Awardes Four Licences in Saharawi

Source: www.gulfoilandgas.com 3/17/2006, Location: Europe

Premier Oil announced the award of four licences by the Government of Saharawi in North West Africa. The four blocks are Daora, Haouza, Mahbes and Mijek. Each block is equivalent in size to 2 North Sea quads (68 blocks). Premier Oil will hold 50% equity in each block, and is a non-operator.

The agreements entered into conform to oil industry standards, are comparable with those utilised in adjacent offshore territories and importantly follow accepted International legal principles and UN guidelines with respect to non-self governing territories.

Simon Lockett, Premier's Chief Executive, commented: "The acreage lies to the north of Mauritania, where the Chinguetti field came on stream last month, and to the south of the Canary Islands where exploration is ongoing for Repsol and Woodside."


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