Technip awarded contract by Valiant for Causeway development

Technip was awarded by Valiant Causeway Limited a lump sum contract, worth approximately €33 million, for the Causeway field development. This field is located about 450 kilometers North-east of Aberdeen, Scotland at a water depth of 150 metres. Full text

Talisman Energy says Grevling oil discovery offshore Norway is promising

2009.05.20 - Subsea Headlines

Talisman Energy Norge AS, a wholly owned subsidiary of Talisman Energy Inc. (TSX:TLM) (NYSE:TLM), has made a promising oil discovery in the 15/12-21 exploration well drilled on the Grevling Prospect in the North Sea. The Grevling well is located about 215 kilometres off the west coast of Norway in PL038, Block 15/12, on the eastern flank of the Central Graben.

The well, which targeted Mesozoic sandstone reservoirs on a structural high, was drilled to a total vertical depth of 3,268 metres, encountering a gross hydrocarbon bearing interval of approximately 133 metres. Two zones were tested at a combined rate of 1,250 bbls/d (197 m3/d). Currently a sidetrack well is being drilled down-dip on the flank of the structure to assess its volumetric upside potential. The discovery lies 16 kilometers north of the Talisman operated Varg Field.

"Grevling is a promising exploration discovery, close to our Varg facility," said Richard Herbert, Executive Vice-President, Exploration. "This, along with the recent Barents acreage award in the 20th Licencing Round, reinforces our long-term growth aspirations in Norway."

Talisman has a 40% working interest in the Grevling discovery, Det norske oljeselskap ASA has a 30% working interest and Petoro AS holds the remaining 30%.

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