PREMIER Oil has completed the £76 million sale of its interests in the Scott, Telford and Rochelle North Sea fields to Hungarian oil and gas player MOL.
It was confirmed it was a cash deal and that MOL has assumed the liabilities related to future abandonment costs.
The stakes will bring MOL an estimated 14.3 million barrels oil equivalent reserves.
Production from the assets averaged 3,700 barrels oil equivalent per day (boepd) in the first six months of this year.
It is expected to peak at 6,200 boepd in 2016.
MOL moved into the North Sea in December last year through a £230m deal to acquire 14 licenses from Wintershall in what it called a "milestone" move.
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