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Premier Oil to increase stakes
PREMIER Oil yesterday said it would raise its stakes in two fields off the coast of Norway.
The FTSE 250 company is paying $27.5m (£17.6m) to give it a bigger slice of the Bream project.
It is buying 20 per cent of one licence and 40 per cent of another from Skeie Energy.
Premier’s total interest in the Bream operation will be 40 per cent and it will have an 80 per cent stake in the adjacent licence.