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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (7905)	1/24/2001 1:31:55 PM
From: LARRY LARSON	Respond to of 24927

Talisman’s North Sea Commitment ABERDEEN, Jan 24 (energy24.com) - Following news of Talisman’s plans to invest C$1.7 billion worldwide, Paul Blakeley general manager of Talisman Energy (UK) has announced that the Canadian company is to more than double its investment in the North Sea from $315 million last year to more than $565 million. And the news also means that Talisman could be creating up to 1,000 new project jobs. Blakeley said, "This is a 60 per cent increase in capital spending for the North Sea on last year and that itself was a record for us. We are also opening a new office complex in Aberdeen next month. All this demonstrates our commitment to the North Sea. We are here to stay." He said new project work would see the creation of around 500 fabrication jobs within oil service companies onshore. Another 500 jobs would be created in drilling and fabrication and modification offshore. The work will not provide permanent jobs, but should provide workers with up to two years security. It is understood that the new investment will see the company drilling ten exploration wells and 27 development wells, with the focus mostly on core assets such as the Claymore and Tartan fields. Talisman has allocated $35 million to overhauling Tartan and $50 million to Claymore. New field development work includes $95 million for linking the Outer Moray Firth Blake oil and gas field to the production ship Bleo Holm, which is moored several miles away in the Ross field. The new investment figure does not include the estimated $35 million rejuvenation of the Moray Firth Beatrice oilfield and its pipeline to the oil terminal at Nigg on the Cromarty Firth.