Premier Oil sets record for North Sea production

Premier Oil doubled its North Sea production in 2016 and expects to make more increases this year. The refinancing of the company's record-high debt is also just around the corner, promises the CEO once again.

Photo: Premier Oil/PR

British oil company Premier Oil extracted a daily 71,400 barrels of oil equivalents (boe) last year. This marks a new record and almost 25 percent more than in 2015 for the company, which is one of the UK's independent oil and gas companies. The significant rise in production mainly took place in the North Sea, where 33,000 daily barrels were produced in 2016, which is twice as much as in the previous year.

This is evident in a press release from Premier Oil ahead of the annual report which will be released in March.

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