Group news

Perenco UK Limited is delighted to confirm today that it has taken over operatorship of the Wytch Farm, Wareham and Kimmeridge oilfields from BP.  This follows on from the announcement on 17th May 2011 that BP had agreed to sell its 67.8 per cent interest in the Wytch Farm field, 67.5 per cent interest in the Wareham field and 100 per cent interest in the Kimmeridge field to Perenco. 

Since May the two companies have been working alongside each other to ensure a seamless transition.  This included the transfer of procedures and practices, the transfer of employment of the site-based staff and receipt of a number of third party and regulatory approvals.

Mike Richardson replaces Jeff Hoyle, as Operations Manager for the site.    Mike has been based at Wytch Farm since July as the Perenco Transition Manager.  Prior to that, he was Operations Manager for Perenco?s onshore oilfields in Turkey.

As announced by Premier Oil on 20th June 2011, Perenco has agreed to sell a 17.7 per cent interest in the Wytch Farm and Wareham fields to Premier Oil UK Limited following completion of the transfer from BP to Perenco. This transaction is expected to complete before the end of 2011

The address and telephone numbers for the site remain the same except for the name change:

Perenco UK Limited
Gathering Station
Thrashers Lane
Corfe Castle
Wareham
BH20 5JR

Switchboard:  01929 476000

E-mail addresses for Wytch Farm staff have changed.  If you e-mail transferred individuals at their old BP e-mail address, you will be directed to a site where you can obtain their new Perenco e-mail address.

Notes to Editors

Perenco

Perenco is a leading European oil and gas company with a presence in 16 countries, spanning from Africa to South America, and from the Middle East to Europe. Perenco currently produces approximately 275,000 boepd and employs more than 4,500 people worldwide. Perenco is proud to be a responsible, safe operator and a partner of choice.

BP to Perenco sale agreement

BP announced on 17th May 2011 that it had agreed to sell its interests in the Wytch Farm, Wareham and Kimmeridge fields to Perenco for up to $610m in cash. The price includes $55m contingent on the future development of the Beacon prospect and on oil prices in 2011-13.

Resulting Equity interests

A) Following BP/Perenco completion:

• Wytch Farm: Perenco (Operator) 67.81 per cent, Premier 12.38 per cent, Maersk 7.43 per cent, Summit 7.43 per cent, Talisman 4.95 per cent.
• Wareham: BP (Operator) 67.5 per cent, Premier 12.5 per cent, Maersk 7.5 per cent, Summit 7.5 per cent, Talisman 5 per cent.
•  Kimmeridge: Perenco (Operator) 100 per cent.

B) Following Perenco/Premier completion:

•  Wytch Farm: Perenco (Operator) 50.10 per cent, Premier 30.09 per cent, Maersk 7.43 per cent, Summit 7.43 per cent, Talisman 4.95 per cent.
• Wareham: Perenco (Operator) 49.6 per cent, Premier 30.4 per cent, Maersk 7.5 per cent, Summit 7.5 per cent, Talisman 5 per cent.
•  Kimmeridge: Perenco (Operator) 100 per cent.

Further enquiries

Perenco London:           +44 (0)20 7861 3232 (Mark Antelme / Elena Dobson)

Perenco Wytch Farm:   +44 (0)1929 476000 (Suzie Baverstock)

Perenco Paris               +33(0)1 53 57 66 00 (Nicolas de Blanpré)

BP London press office:          +44 (0)207 496 4076 (bppress@bp.com)

BP Aberdeen press office:        +44(0)1224 832347 / 832030