Talisman Energy Sells Non-Core Denmark Assets for $83 Million
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.
Operates 8 Offshore Rigs
- Strong Upstream Performance from European Majors (Jul 28)
- PETRONAS, PetroVietnam Extend PM3CAA PSC in Malaysia-Vietnam Waters to 2027 (May 10)
- Repsol Significantly Scales Back Upstream Investment (Oct 15)
Company: Norwegian Energy Company (NORECO) more info
- Det Norske to Acquire Noreco's Norwegian Portfolio (Mar 02)
- Noreco Oil UK Receives Huntington License Default Notice (Nov 02)
- Noreco CEO Steps Down (Oct 13)