Talisman eyes new plans for Yme field development

Tue Oct 30, 2012 2:21pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

CALGARY, Alberta Oct 30 (Reuters) - Talisman Energy Inc Chief Executive Hal Kvisle said on Tuesday the company took a $497 million pre-tax writedown on its troubled Yme oil project in the Norwegian North Sea because it lost confidence it can move ahead under current plans.

Talisman and the platform's contractor, SMB Offshore , are now in "advanced" talks about how to resolve issues that have raised questions about the stability of the unit and kept crews from returning after several months.

"We're considering various options for how the field will ultimately be developed, but suffice to say that we're taking these writedowns because we have lost confidence that we can proceed under the current plan to bring this thing into production," Kvisle told analysts.