(Reuters) - Premier Oil Plc (>> Premier Oil) has hired oil and gas industry veteran Roy Franklin as its chairman to succeed Mike Welton, who said in March that he would step down on appointment of a successor.

Franklin, who is currently the interim chairman of Norway's Statoil (>> Statoil), will assume the role of Premier Oil's non-executive chairman from Sept. 1, the company said.

During his 40 years in the industry, Franklin has worked with many companies, including oil major BP (>> BP) where he stayed for 18 years. He is also lined up to become deputy chairman of the combined group when oilfield services Wood Group (>> John Wood Group) completes its acquisition of rival Amec Foster Wheeler (>> Amec Foster Wheeler).

Premier Oil, which had been struggling with high levels of debt before agreeing to a restructuring deal in February, made a loss before tax in 2016 but its share price rose 52 percent as the crude oil prices recovered.

The North-Sea focused oil producer also named Dave Blackwood and Mike Wheeler as non-executive directors with immediate effect.

Welton is leaving Premier Oil after eight years at the helm.

(Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier)

Stocks treated in this article : Statoil, John Wood Group, Premier Oil, BP, Amec Foster Wheeler