New Player Enters the Decommissioning Market
to invest in key assets and people to build a market-leading decommissioning company for the future.” Patterson and Alasdair Lock are the major shareholders. Among the other industry heavy-hitters is Paul Warwick, formerly executive director for Repsol SA, executive vice president for Talisman Energy Inc. and regional president of ConocoPhillips Inc. Warwick added, “From an operator’s perspective, Well-Safe’s offering will be highly compelling. There is no better time for a new entrant to invest in key assets and people to build a market-leading decommissioning
BP Exploration Boss Leaves in Reorganization
is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits. Herbert, a BP veteran and a long-time ally of Chief Executive Bob Dudley, rejoined BP in October 2013 after several years at rival Talisman Energy. His task was to lead exploration activity to help the firm rebuild investor confidence following a deadly U.S Gulf oil spill in 2010. But as oil prices began to crash from mid-2014 and BP had to shed assets to pay off some $50 billion in U.S. liabilities for the Macondo spill, the
Talisman to Sell Stakes in Two Australian Offshore Fields
Talisman Energy Inc said on Wednesday it plans to sell its stakes in two oilfields in the Timor Sea off the coast of Australia as Canada's No.5 independent oil producer continues to restructure its global petroleum properties. The company is looking to sell its 40 percent stake in the Corallina and its one-third stake in the Laminaria fields, whose production averaged under 6,000 barrels per day last year, a small fraction of the 373,000 barrels of oil equivalent per day that Talisman averaged over 2013. The two oilfields are operated by Woodside Petroleum Ltd. Talisman has been slimming its
New Contract for Jack-up Rig 'Maersk Giant'
Maersk Drilling has signed a contract with Talisman Energy Norge for the ultra-harsh environment jack-up 'Mærsk Giant' for drilling operations in the Norwegian North Sea. The duration of the contract is one year, and Talisman Energy Norge has options to extend the contract up to a total of three years. The contract is expected to commence in mid-third quarter 2014 and the estimated value of the firm contract (one year) is USD 137 million. “We are very pleased to enter into this agreement with Talisman Energy Norge, which is a highly valued customer of Maersk Drilling. Norway remains a
February 2024
