Talisman Energy

Title: Talisman Energy
Category: Energy
Clicks: 3
Added on: Nov 26, 2011
Talisman Energy is among the largest petroleum producers in Canada, with operations around the world. The company has operations in Canada, the United Kingdom, Australia, Vietnam, Colombia, Norway, and other countries. Among its main competitors are Devon Energy Corporation and Apache Corporation.

Based in Calgary, Talisman Energy has a diversity of holdings and a history of mergers and acquisitions. Established in 1992, it sold unprofitable mining operations, after a split from BP, shifting its focus to extensive natural gas deposits in British Columbia. In 1993, the company bought Encor Inc from Bell Canada and doubled in size to become one of the largest petroleum producers in the country. Talisman Energy gained more assets when it bought Bow Valley Energy in 1994 and expanded to Southeast Asia and the North Sea.

The main business activities of Talisman Energy include development, exploration, production, marketing, and transportation of natural gas liquids, natural gas, and crude oil. In 2010, the company focused on piloting and developing projects in North America. Through strategic partnerships and land acquisitions, the company continued building its position in activities, plays, and projects aimed at extracting gas liquids and natural gas from shale formations. These partnerships include joint ventures with Sasol Limited and Statoil in the Montney shale play and the Eagle Ford shale play.

In Latin America, the company has operations in Peru and Colombia, and its subsidiaries have acquired non-operator interests and operator interests in 7 blocks in total, found in the Maranon basis in the northern part of Peru. The company has two operating areas in the United Kingdom – the Central Business Area and the Northern Business Area, accounting for 18 percent of Talisman Energy’s production worldwide in 2010. The primary focus of Talisman in the United Kingdom is oil. Talisman Energy also has interests in Southeastern Asia, including Papua New Guinea, Australia, Vietnam, Malaysia, and Indonesia. Its production in 2010 averaged 119,000 boe/d, and the company operated about 36 percent of its production in South Asia. The company had operations in other countries as well, including Trinidad and Tobago, Tunisia, and Algeria. In 2009, Talisman Energy disposed of its interests on the territory of Trinidad and Tobago.
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