| < Company Profiles / Oil & Gas/ Premier Oil plc |
19.09.01
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Premier Oil plc
Who, where, how much? 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% |
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| 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 |
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| 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
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| Footnotes [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] |