A wholly-owned subsidiary of Talisman Energy Inc. has entered into an agreement with Norwegian Energy Company ASA (Noreco) to sell all of its shares in Talisman Oil Denmark Limited for a consideration of US$83 million.
"As we move into the early phases of Talisman's new strategy, we will focus our portfolio on our core areas," said John Manzoni, President and Chief Executive Officer. "This sale is fully in line with our emerging direction."
The Company's interests in the Danish sector of the North Sea include 30% of License 6/95, which contains the producing Siri field. Talisman's production from the Siri field for 2007 averaged approximately 2,600 boe/d. Talisman's proved reserves were 2.1 mmboe as of December 31, 2007.
The sale, which is subject to the usual government consents, is expected to be completed later in the year.
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