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May 14, 2020

Premier Oil announces fall in production amid Covid-19

By JP Casey

British oil and gas firm Premier Oil has announced a financial and operational update, with delayed production and uncertain finances highlighting the impacts of the Covid-19 pandemic on the country’s oil and gas industry.

The company announced that production had reached an average of 70,100 barrels of oil equivalent per day (boepd) since the start of the year, down from its 2019 annual production of 78,400 boepd, and the 85,900 boepd produced in the same period last year. Premier also announced delays at its Tolmount projects, with the main facility, a 25,000 boepd project, now scheduled to produce its first gas in the second quarter of 2021, while a decision is expected to be made on the proposed Tolmount East project by the end of this year.

Read more about the impacts of Covid-19 on the company here.

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