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The Andrew platform is about 140 miles (225km) north east of Aberdeen
Oil giant BP has agreed a £474m ($625m) deal to sell a package of North Sea assets.
Premier Oil will take over the Andrew platform and BP’s controlling stake in five surrounding fields, as well as its minority stake in the Shell-operated Shearwater field.
A total of 69 staff on the Andrew assets are expected to transfer to Premier.
BP said the move was part of a “reshaping” of its North Sea portfolio.
The five fields all produce through the Andrew platform, which is about 140 miles (225km) north east of Aberdeen.
The Andrew assets comprise the platform itself, and the Andrew, Arundel, Cyrus, Farragon and Kinnoull fields.
BP also holds a 27.5% stake in the Shell-operated Shearwater field.
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BP
All five fields involved produce through the Andrew platform
BP North Sea regional president Ariel Flores said: “BP has been reshaping its portfolio in the North Sea to focus on core growth areas.
“As a result of this focus, we have also now decided to divest our Andrew and Shearwater interests, believing them to be a better strategic fit for another owner.
“We are confident that Premier Oil, already a significant operator in the North Sea, is the right owner of these assets as they seek to maximise their value and extend their life.”
Premier chief executive Tony Durrant said: “These acquisitions are in line with our stated strategy of acquiring cash generative assets in the UK North Sea.
“We look forward to realising the significant long-term potential of the Andrew and Shearwater assets through production optimisation, incremental developments and field life extension projects.”
The deal is expected to be completed at the end of the third quarter of the year.
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