Talisman Presses Ahead With Kurdish Asset Sale

Canada’s Talisman is proceeding with the sale of all or part of its Kurdistan assets as part of a previously announced divestment plan. This comes as other Canadian firms are withdrawing KRG staff.

Calgary-based Talisman is keen to stress that neither its Kurdistan Regional Government (KRG) divestment plans, nor its operations in the autonomous region have been affected by recent developments, which have seen Jihadist fighters of ISIS engage KRG Peshmerga troops on numerous fronts, oil blocks seemingly threatened, and a stream of IOCs withdraw staff (see p2).

Bret Anderson, spokesman for the Canadian upstream firm, which also has significant assets in Algeria, as well as North America, says the company’s intention to dilute its position in Iraq still stands, referring to an announcement by President and CEO Hal Kvisle earlier this year of plans to sell off non-core and capital intensive assets as part of a $2bn divestment program over a period of 12-18 months. The company has selected an adviser, he adds. (CONTINUED - 617 WORDS)