Resource InvestorTalisman Energy Sells Dutch North Sea Interests
By Canadian Press
03 Sep 2008 at 10:23 AM GMT-04:00
TalismanEnergy Inc. has sold its entire non-operated interests in the DutchNorth Sea for $480 million to Total Holdings Nederland.
CALGARY(CP) -- The deal announced Wednesday advances the strategic shiftTalisman enacted early this year which included selling about $3billion worth of assets and focusing on North American natural gas,Southeast Asia and the British and Norwegian sectors of the North Sea."We continue to focus Talisman's portfolio in line with our new strategy," stated CEO John Manzoni.
"With the earlier sale of our Danish assets and nowthis transaction, the emphasis in the North Sea will be on positioningour U.K. assets as a firm production base and growing our Norwegianbusiness."
The minority licence holdings in the Dutch sale,which is subject to government and partner approval, netted Talisman 23million cubic feet per day of natural gas, with proved reserves of 43billion cubic feet.
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