Premier Oil sells business in Pakistan
Premier Oil is an UK based independent company, currently working in Pakistan for oil and gas. The company has sold its business in Pakistan for $65.6 million.
According to officials, the company has signed the consent with Al-Haj Energy Limited for selling the Premier Oil Pakistan Holdings BV.
Currently, Al-Haj has deposited the amount of $15 million while $10 million will be paid by the company within 60 days.
The whole transaction would be cleared by the end of the year 2017.
The transaction requires receipt of government and other regulatory approvals.
Premier Oil is working in Pakistan since 1990.