Talisman Books Loss on Kurdistan Block

By John Lee.

Talisman Energy, the Canadian producer being acquired by Spain’s Repsol, has fully impaired its investment in Block K44 in the Kurdistan region of Iraq by $234 million, after determining that future investment in a capital constrained environment was unlikely.

The company has an interest in two blocks, Kurdamir and Topkhana, covering in excess of 119,000 acres (net to Talisman), and is currently exploring options to dilute its ownership in the Kurdistan Region of Iraq.

(Sources: Talisman Energy)