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Struggling UK oil company extracts first oil from North Sea field

After a huge debt buildup, UK oil company Premier Oil has now extracted first oil from the Catcher field in the North Sea.

Photo: Premier Oil/PR

After several years of exploration and building infrastructure, and thereby a billion US dollars in debt, UK oil company Premier Oil announced yesterday that it had extracted first oil from its new Catcher field in the North Sea.

The UK firm is thus on target with an investment which has reached USD 1.6 billion.

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