Premier Oil: Who, Where, How Much?

Premier Oil Head office
23 Lower Belgrave Street
London
SW1W 0NR
Phone: +44 (0)20 7730 1111
Fax: +44 (0)20 7730 4696
Telex: 918121
Registered office
4th Floor, Saltire Court
20 Castle Terrace
Edinburgh
EH1 2EN
Structure / Ownership
Major shareholders [6]:
Amerada Hess (parent company of Amerada Gas which supplies domestic gas to households in the Midlands) 25%
Petronas International Corp (Malaysian oil prospecting company) 25%. [Petronas is also Talisman's partner in Sudan together with the China National Petroleum Corporation (CNPC). Allegations have been made against these companies for complicity in abuses by security forces displacing local people [7].
Keppel Corporation 3.02%
Further UK shareholders in Premier Oil as of 24th January 2000 are [8]:
• Guardian Royal Exchange life insurance company - 4.73%,
Major overseas shareholders include:
• Sanford C Bernstein & Co Inc - American financial services corporation -4.27%,
• Aegon UK PLC - subsidiary of Dutch life insurance company - 2.17%
Back to top
Board of Directors [9]
Executive directors
Charles Jamieson, Chief Executive (total income of £365,900 from Premier in 2000)
Richard Liddell, Operations Director (responsible for production, development and health and safety activities)
John van der Welle, Finance Director
Non-executive directors
Sir John David, Chairman (also non-executive director for Balfour Beatty plc, The St Paul Companies Inc and BOC Group plc)
Scott Dobbie
Ian Gray
John Orange
Rupert Lascelles
Azam Alizai
Dato'Mohamad Idris Mansor
Sam Laidlaw (President and Chief Operating Officer of Amerada Hess Corporation)
Tan Sri Dato'Mohd Hassan Marican [President and Chief Executive Officer of Petronas, Chairman of Engen Ltd South Africa]
Subsidiaries [10]
Premier Oil Exploration Ltd*
Exploration, production and development, UK
Premier Pict Petroleum Ltd*
Exploration, production and development, UK
PCO Trading Ltd*
Oil trading, UK
PCO Finance Ltd
Investment, UK
Premier Petroleum Myanmar Ltd*
Exploration and development, Myanmar
Premier Oil Natuna Sea BV*
Exploration, production and development, Indonesia
Premier Oil Australia Pty Ltd*
Holding Company, Australia
Premier Oil Holdings Ltd
Holding Company, UK
• Held through subsidiary undertakings.
Investments in other entities (ordinary shares held):
Anglo Albanian Petroleum Ltd (50%)
Exploration and production, Albania
Taninthayi Pipeline Company Ltd (26.7)
Pipeline operations, Myanmar
Global Resources Ltd (50%)
Production and development, Myanmar
Australian Worldwide Exploration NL (22.9%)
Exploration and production, Australia, New Zealand and Argentina
==Advisers==
Bankers [11] Barclays Bank plc,
Chase Manhattan Bank N.A,
Shroeders
Financial advisors [12] Shroeder Salomon Smith Barney
Stockbrokers [13] SG Securities Ltd Bloxham Stockbrokers
Auditors [14] Ernst & Young, Becket House, 1 Lambert Palace Rd, London, C2V 5DB, England
Solicitors [15] Slaughter and May, 35 Basinghall Street, London, EV2V 5DB, England
Denton Wilde Sapte
PR firm [16] College Hill
==References==
[6] Premier Oil, Annual Report & Accounts 2000, p. 28.
[7] See the Amnesty International report 'Sudan: The Human Price of Oil', online at www.web.amnesty.org/ai.nsf/index/AFR540012000, or Christian Aid's report 'The Scorched Earth: oil and war in Sudan', online at www.christian-aid.org.uk/indepth/0103suda/sudanoil.htm.
[8] From 'UK Cash Fuels Burma's suffering' by David Cohen, from issue 10 of Corporate Watch magazine. www.corporatewatch.org.uk/magazine/issue10/cw10f3.html
[9] Premier Oil, Annual Report & Accounts 2000, pp.25 and 31 (here you will also be able to see the income of all directors.
[10] Premier Oil, Annual Report & Accounts 2000, pp. 46 and 47.
[11] From Hemscott.net, online at www.hemscott.com/equities/company/cd00859.htm
[12] ibid.
[13] Premier Oil, Annual Report & Accounts 2000, p. 61
[14] ibid.
[15] ibid.
[16]
Category: Transnational CorporationsCategory: Oil Industry