Talisman to Sell Kurdamir Stake

By John Lee.

Talisman Energy has said that it still plans to sell its oil properties in Iraqi Kurdistan, despite the recent declaration that its Kurdamir Block was commerical.

Reuters reports that the Calgary-based company plans to look for buyers for its Kurdistan assets as it continues restructuring to cut debt and boost its flagging shares.

Kyle Glennie, a spokesman for Talisman, said:

"The (discovery declaration) is really just a procedural step. It gives us a bit of optionality ... Really, we're of the same mindset and the same strategy."

Talisman also owns the Topkhana property in Kurdistan and is evaluating the results of a well drilled there.

(Source: Reuters)

Comments are closed.