{"id":230,"date":"2013-12-10T13:57:51","date_gmt":"2013-12-10T13:57:51","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=230"},"modified":"2015-11-02T14:32:42","modified_gmt":"2015-11-02T14:32:42","slug":"premier-oil-withdraw-from-plc-block-l10a-in-kenya","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/premier-oil-withdraw-from-plc-block-l10a-in-kenya\/","title":{"rendered":"Premier Oil Withdraw from PLC Block L10A in Kenya"},"content":{"rendered":"<p>Premier Oil\u00a0has withdrawn from Block L10A offshore Kenya after a review into exploration activities.<\/p>\n<p>The FTSE 250 firm, which held a 20% equity stake in Block L10A, announced the decision on Monday following the acquisition of the interest back in 2011.<\/p>\n<p>It has held on to its 25% ownership in the adjacent Block L10B, with a so-called &#8216;drill or drop&#8217; decision expected by mid-2014. L10B is joint owned with\u00a0BG Group(45%), PTTEP (15%) and Pancontinental Oil &amp; Gas (15%).<\/p>\n<p>&#8220;Whilst we remain committed to exploration in Kenya, we continue to focus our resources on projects that meet our internal corporate investment metrics and to high grade our exploration portfolio accordingly,&#8221; said Premier &#8216;s Chief Executive Simon Lockett.<\/p>\n<p>The company in October revised its production guidance for the full year to a rate of 57,000-59,000 barrels of oil equivalents per day (boepd), down from its previous target of 63,000boepd. This was due to gas export issues at Chim S\u00e1o in Vietnam and the CATS pipeline system in UK; these issues are due to be resolved shortly.<\/p>\n<p>The year-end exit rate is expected to be around 65,000boepd.<\/p>\n<p>The stock was down 0.27% at 300p in early trading on Monday.<\/p>\n<h6 class=\"zemanta-related-title\" style=\"font-size: 1em;\">Related articles<\/h6>\n<ul class=\"zemanta-article-ul\">\n<li class=\"zemanta-article-ul-li\"><a href=\"http:\/\/www.hispanicbusiness.com\/2013\/12\/9\/premier_oil_plc_-_early_closure.htm\" target=\"_blank\">Premier Oil plc &#8211; Early Closure of the Offer Period<\/a> (hispanicbusiness.com)<\/li>\n<li class=\"zemanta-article-ul-li\"><a href=\"http:\/\/r.zemanta.com\/?u=http%3A\/\/www.telegraph.co.uk\/finance\/markets\/questor\/10506667\/Questor-share-tip-Premier-Oil-downgraded-on-slow-recovery.html&amp;a=228919683&amp;rid=000003a5-d8ef-000F-0000-0000000000e6&amp;e=80ad49bb68b5587f152b2c613ff95c04\" target=\"_blank\">Questor share tip: Premier Oil downgraded on slow recovery<\/a> (telegraph.co.uk)<\/li>\n<li class=\"zemanta-article-ul-li\"><a href=\"http:\/\/r.zemanta.com\/?u=http%3A\/\/www.telegraph.co.uk\/finance\/personalfinance\/investing\/bonds\/10473070\/Premier-Oil-offers-5pc-to-investors.html&amp;a=224288156&amp;rid=000003a5-d8ef-000F-0000-0000000000e6&amp;e=ccb53b8ba2a42a7f4a2c4cba1848d21f\" target=\"_blank\">Premier Oil offers 5pc to investors<\/a> (telegraph.co.uk)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Premier Oil\u00a0has withdrawn from Block L10A offshore Kenya after a review into exploration activities. The FTSE 250 firm, which held a 20% equity stake in Block L10A, announced the decision &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/premier-oil-withdraw-from-plc-block-l10a-in-kenya\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[236,453,928,1252,1625,2070,2071,2676],"class_list":["post-230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-bg-group","tag-chief-executive-of-hong-kong","tag-ftse-250-index","tag-kenya","tag-monday","tag-premier","tag-premier-oil","tag-vietnam","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/premier-oil.jpg?fit=2500%2C1667&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3I","jetpack-related-posts":[{"id":2792,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-oil-gas-withdraws-kenyas-block-l10b\/","url_meta":{"origin":230,"position":0},"title":"Pancontinental Oil and Gas withdraws from Kenya\u2019s Block L10B","author":"","date":"April 8, 2015","format":false,"excerpt":"Australian explorer Pancontinental has served a notice of withdrawal on BG Kenya L10B Limited the only remaining participant and operator of Kenya Licence L10B from the Joint Operating Agreement with BG and from the PSC governing L10B. Pancontinental holds a 25% interest in L10B, while BG holds 75%. Licence area\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3038,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-oil-gas-pttep-withdraw-kenyas-block-l10a\/","url_meta":{"origin":230,"position":1},"title":"Pancontinental Oil &#038; Gas, PTTEP Withdraw from Kenya\u2019s Block L10A","author":"","date":"June 2, 2015","format":false,"excerpt":"Pancontinental Oil & Gas and its L10A joint venture partner PTTEP of Thailand have issued Operator BG Kenya L10A Limited notices of withdrawal from Block L10A in the Lamu Basin offshore Kenya. \u00a0 This is subject to Ministerial consent where Pancontinental\u2019s 18.75% interest and PTTEP\u2019s 31.25% interest will be transferred\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/11\/blockl10a-l10b.png?fit=698%2C402&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5705,"url":"https:\/\/www.oilnewskenya.com\/index.php\/shell-to-commence-frontier-seeps-survey-in-blocks-l10a-l10b-offshore-kenya\/","url_meta":{"origin":230,"position":2},"title":"Shell To Commence Frontier Seeps Survey in Blocks L10A, L10B Offshore Kenya","author":"","date":"February 22, 2017","format":false,"excerpt":"Shell\/BG Kenya have awarded Fugro a contract for the execution of a seabed survey to detect natural leakages of hydrocarbons in their\u00a0operated blocks in Kenya namely block\u00a0L10A and L10B. The seeps survey complements a seismic exploration programme that was completed recently offshore Kenya. Undertaking a four-week campaign of multibeam data\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1059,"url":"https:\/\/www.oilnewskenya.com\/index.php\/pancontinental-receives-12-months-license-extension-in-block-10a\/","url_meta":{"origin":230,"position":3},"title":"Pancontinental receives 12 months license extension in Block L10B","author":"Samuel Kamau Mbote","date":"May 19, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Pancontinental Oil & Gas has announced that the Kenyan government has granted it a 12-month extension to the current Initial Exploration Period of the L10B offshore license. Pancontinental says it considers this to be extremely favourable because it gives the joint venture partners more time to assess the\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/block-l10b.jpg?fit=751%2C451&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":944,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ophir-in-bid-to-buy-premier-oil\/","url_meta":{"origin":230,"position":4},"title":"Ophir Energy in bid to buy Premier Oil","author":"Samuel Kamau Mbote","date":"April 27, 2014","format":false,"excerpt":"Source: The Sunday Times Ophir Energy is said to have approached Premier Oil with two secret bids to create a 5 billion combined oil exploration group, The Sunday Times reports citing an unnamed source. Premier Oil\u2019s board is however said to have turned down the offer as does not offer\u2026","rel":"","context":"In &quot;News by others&quot;","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1236,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-confirms-first-oil-deposits-offshore\/","url_meta":{"origin":230,"position":5},"title":"Kenya confirms first oil deposits offshore","author":"Samuel Kamau Mbote","date":"June 17, 2014","format":false,"excerpt":"Pancontinental Oil and Gas has announced that after lengthy analysis, it has been verified that the recently completed Sunbird-1 well off the southern Kenyan coast has intersected an oil column \u2013 the first-ever oil discovered off the East African coast. The gross oil column is assessed to be 14m thick\u2026","rel":"","context":"In &quot;New Discoveries&quot;","block_context":{"text":"New Discoveries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/new-discoveries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/sunbird-1-2.png?fit=441%2C262&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=230"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/230\/revisions"}],"predecessor-version":[{"id":4015,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/230\/revisions\/4015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/231"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}