Talisman Energy Inc. was a Canadian independent petroleum company that existed between 1993 and 2015. The company was created from the assets of BP Canada after British Petroleum divested its 57 percent stake in June 1992. It was one of Canada's largest independent oil and gas companies, and operated globally, with operations in Canada (B.C., Alberta, Ontario, Saskatchewan, Quebec) and the United States of America (Pennsylvania, New York, Texas ) in North America; Colombia, South America; Algeria in North Africa; United Kingdom and Norway in Europe; Indonesia, Malaysia, Vietnam, Papua New Guinea, East Timor and Australia in the Far East; and Kurdistan in the Middle East. Talisman Energy has also built the offshore Beatrice Wind Farm in the North Sea off the coast of Scotland.
35-597: The Beatrice Offshore Wind Farm now known as Beatrice Offshore Windfarm Ltd (BOWL) project, is an offshore wind farm close to the Beatrice oil field in the Moray Firth , part of the North Sea 13 km off the north east coast of Scotland . Beatrice Wind Farm Demonstrator Project was a joint venture between Scottish and Southern Energy and Talisman Energy (UK) to build and operate an evaluation wind farm in
70-578: A capacity 23,750 barrels per day. Beatrice oil is exported via a 16-inch pipeline from Beatrice Alpha to a terminal at Nigg Energy Park in the Cromarty Firth , where it is stored until tanker shipment. Since 1986/87 Beatrice has a 132/33kV power cable (via submarine) from Dunbeath. It connects the platform to the mainland power supply. It is used when the platform is fuel gas deficient. Since 2007 Beatrice Alpha has been supplied electricity by two 5MW wind turbines which were constructed to test
105-471: A number of mergers and acquisitions , which reflects in the complex history and large diversity of holdings. In the 2015 Forbes Global 2000 , Talisman Energy was ranked as the 1728th -largest public company in the world. Talisman was the first Canadian company to join the Voluntary Principles on Security and Human Rights Plenary Group ( Voluntary Principles on Security and Human Rights ) and
140-654: A takeover bid of Wascana Energy , a former crown corporation of the Saskatchewan government. It got into a bidding war over Wascana with Canadian Occidental Petroleum (later, Nexen ), and failed in its attempt. It continued its aggressive expansion, investing in the North Sea and Indonesia; and in 1997, bought the smaller Pembina Resources. In 1999, Talisman Energy acquired Rigel Energy. Since then, Talisman has expanded its operation in Southeast Asia and in
175-530: Is 13 km from the Scottish coast and in 45 m of water. The evaluation project was proposed to last five years. All the electricity generated was fed to the nearby Beatrice Alpha oil platform. The oilfield ceased operations in March 2015, and the demonstrator wind farm is expected to be decommissioned between 2024 and 2027. In February 2009, the partnership of SSE Renewables and Repsol Nuevas Energias UK,
210-591: Is 2,100 m below the sea bed and about 8,000 tonnes of oil has been produced each day. Operation of the Beatrice oil field was then transferred to Talisman in 1997 until it was leased to Ithaca Energy who took over operations in 2008. Talisman resumed ownership of the field in 2015 from Ithaca Energy and is preparing to decommission the field. The Beatrice Alpha complex consists of 2 platforms bridge-linked (50.5 m): 1 drilling/quarter platform (AD) and 1 processing/power generation (AP). Beatrice B satellite platform
245-935: Is a participant in the United Nations Global Compact . The origins of Talisman energy traces to the Supertest Petroleum Corporation , which was founded in 1923 and headquartered in London, Ontario . In 1953, British Petroleum Company (BP) entered the Canadian market through the purchase of a minority stake in Calgary-based Triad Oil Company. In the early 1950s, the power struggle between oil companies and host governments in Middle East started, which hampered operations of British Petroleum in
280-608: Is connected to the new Beatrice/BOWL thence to Blackhillock Substation near Keith in Moray, the UK's biggest electricity substation as of January 2019. Installation and commissioning for all 84 turbines was completed on 15 May 2019. In October 2018 details emerged that migrant workers were being used increasingly in the construction phase. It came out that 11 Russian Workers were arrested at Aberdeen Airport in 2017 as they were working illegally on Seafarers documents. In an unexpected move,
315-602: Is designated as a Special Protection Area for wildlife conservation purposes. The Moray Firth contains a Special Area of Conservation (SAC) designated under the EU Habitats Directive, which is one of the largest Marine Protection Areas in Europe. The SAC protects the inner waters of the Moray Firth, from a line between Lossiemouth (on the south coast) and Helmsdale (on the north coast) westwards and although
350-540: Is expected to power approximately 450,000 homes (around three times the number of homes in the Moray and Highland regions). In June 2016 contracts were awarded to Global Energy Group for the production and assembly of the turbines at Nigg Energy Park in Ross Shire and to Wick Harbour in connection with the assembly process. Offshore work began in 2017 and the wind farm was completed in 2019. The Inner Moray Firth
385-558: Is located to 3 miles north-east of the A complex, and was installed later. It is a drilling and a water injection platform. Beatrice C is designated a satellite water injection facility and was installed in September 1984. It pushes oil from the south-west end of the reservoir in direction of A. B and C are linked by pipelines with A. Fabrication details are given in the table. Crude oil was heated to improve separation and flowed to one of two parallel 3-stage Separators (A and B) where gas
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#1732772061365420-586: The Beatrice Wind Farm Demonstrator Project , at a cost of €41 million, saw two 5 MW wind turbines installed adjacent to the Beatrice oil field. On 23 May 2016 the £2.6bn Beatrice Offshore Windfarm Ltd (BOWL) project was given the green light for construction by owners SSE (40%), Copenhagen Infrastructure Partners (CIP) (35%) and SDIC Power (25%). The project will be one of the largest private investments ever made in Scottish infrastructure. The 588 MW, 84 turbine wind farm
455-1114: The North Sea , with a brief exploration operations in South Eastern Trinidad & Tobago. On May 30, 2007, the company announced the retirement of its longtime President & CEO, James Buckee. John Manzoni , formerly of BP, was named as his successor, effective September 1, 2007. In January 2008, Talisman agreed to buy RSX Energy Inc, an oil and gas company based in Calgary , Alberta focused on exploration and development in Western Canada . Formed in 1997 as Royal Sovereign Exploration Inc. it changed its name to RSX Energy in 2002. In July 2012, Talisman Energy sold part of its interests in Britain to focus on higher-growth shale gas projects in North America and Southeast Asia. A joint venture with China Petroleum & Chemical Corporation Limited (or Sinopec )
490-717: The Sudanese oil industry through a 25% interest in the Greater Nile Oil project operated by the Greater Nile Petroleum Operating Company (GNPOC). Further, GNPOC was a consortium which included Sinopec , the national petroleum company of China (40%); Petronas , the national oil company of Malaysia (30%); and Sudapet , the national petroleum company of Sudan (5%). At the time, the Second Sudanese Civil War
525-476: The Canadian government to penalize the company. As part of this protest, the Presbyterian Church of Sudan sued the company in an American court for genocide, stating that Talisman had helped Sudanese officials "bomb churches, kill church leaders and attack villages in an effort to clear the way for oil exploration." In an unprecedented event, an American judge decided the lawsuit was valid, but it
560-542: The UK Home Office granted a 6-month waiver so that the crew could continue to work. This has been extended twice until 2019. Beatrice oil field The Beatrice Oil Field is a small oilfield consisting of 3 platforms located 24 km off the north east coast of Scotland. It began operations in 1980 with the field finally being decommissioned in 2017. Work is ongoing to begin removing all structures. The 84 turbine Beatrice Offshore Windfarm now sits in
595-602: The allegations, Talisman initiated an annual third-party verified, "Corporate Responsibility Report" and implementing procedures for monitoring the company's compliance with the International Code of Ethics for Canadian Business. In 2003, Talisman Energy divested the Sudan interest acquired through the Arakis acquisition, selling its complete 25% stake to Indian company ONGC Videsh . Whether this divestiture benefited
630-429: The company and announced he would be seeking a place on the board. His acquisition prompted the firm's share price to rocket by 16% before ultimately plummeting 60% over the course of 2014 before Icahn divested. Following months of speculation and negotiations, Spanish energy company Repsol tendered an offer to buy Talisman in early December 2014 for US$ 8 per share. Including debt obligations of US$ 5 billion ,
665-768: The construction phase due to the expected influx of workers. Work began in April 2017. Offshore construction began in April 2017. As of 15 May 2018, 56 of the total 84 turbine and 2 OTM jackets had been installed, first power from the main phase was generated in July 2018, with full commissioning expected to follow in spring 2019. In January 2019, the wind farm was connected to the new Caithness - Moray Link . The high voltage direct current link enables power generated at Beatrice and other projects to be sent to high population areas in southern Scotland. The link which runs from Caithness to Moray, which comes ashore at Portgordon in Moray ,
700-487: The deal was worth US$ 13.1 billion. On February 19, 2015, Talisman shareholders approved the acquisition offer from Repsol with 99 percent of shareholders in each class voting in favor of the deal. In January 2016, Repsol announced that the legal name of Talisman would be changed to Repsol Oil & Gas Canada Inc. effective January 1, 2016. In 1998, Talisman made one of its most controversial moves when it purchased Arakis Energy. The acquired business had involvement in
735-580: The deep water close to the Beatrice Oil field that Talisman Energy was planning to decommission. Built in 2007, with two turbines and a total capacity of 10 MW, it was designed to examine the feasibility of building a commercial wind farm in deep water. The jacket foundation design was developed by the Norwegian company OWEC Tower AS, and fabricated in Scotland by Burntisland Fabrications. The site
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#1732772061365770-775: The early 1980s, when in 1982, BP Canada divested its downstream assets to Petro-Canada , which was at the time owned by the Government of Canada. In 1992, British Petroleum sold off its 57% stake in BP Canada Ltd to the public. BP Canada was later renamed to Talisman Energy Inc. and one of Canada's largest independent oil and gas company was founded. After the split from British Petroleum, Talisman Energy sold off its money losing mining operations and focused on its large natural gas holdings in British Columbia, Canada. Its subsidiary Fortuna Petroleum, became one of
805-521: The first international oil companies to do business with Cuba . A year later in 1993, Talisman Energy bought Encor Inc from BCE , doubling in size and becoming one of Canada's largest petroleum companies. Talisman Energy acquired Bow Valley Energy from British Gas PLC in 1994, gaining more assets in Canada and an important presence in the North Sea and Southeast Asia. In 1995, it pulled out of Cuba to focus on these areas. In 1997, Talisman Energy launched
840-515: The people of Sudan is highly questionable, with concern having been raised by one NGO active in the region: "If you pressure Talisman to leave Sudan then will the remaining actors take any action to address these critical issues? At least Talisman has taken notice and responded ...". Talisman's chief executive Jim Buckee was quoted by the BBC saying "It has been very difficult for us to operate [in Sudan], in
875-456: The proposed wind farm is outside this area the companies involved are working to ensure that the wildlife will not be impact in any way not just in the operating of the wind farm but also in the building phase. Talisman Energy The company was acquired by Repsol in 2015 and in January 2016 was renamed to Repsol Oil & Gas Canada Inc. The company initially grew quickly through
910-436: The region, and prompted it to diversify its operations beyond the heavily Middle East dependent oil production. The Canadian holding company of British Petroleum was renamed BP Canada in 1969; and in 1971, it acquired 97.8% stake of Supertest. Subsequently, Supertest was renamed to BP Canada Ltd, and other Canadian interests of British Petroleum were amalgamated to the new company. BP retail operations disappeared from Canada in
945-444: The same area and was completed in 2019. Beatrice was the first field to be developed in the Moray Firth area, and at 24 km from the shore that can be seen from the land. Beatrice comprises 4 conventional steel platforms: Beatrice A, and two single satellite platforms B and C. First discovered and developed by Mesa Petroleum, and named after Mesa's founder T. Boone Pickens ' wife, it covers an area of around 23 km . The oil
980-421: The viability of a windfarm being built in the area. The successful pilot has led to an 84 turbine windfarm The Beatrice Offshore Windfarm Ltd (BOWL) being constructed. The Beatrice Field is now nearing the end of its productive life. Talisman explored the potential of the site for the world's first deep water wind farm . Led by Talisman Energy in partnership with Scottish and Southern Energy (and others),
1015-546: Was announced, that saw Talisman sell 49% of its Aberdeen, Scotland-based North Sea business to Sinopec for US$ 1.5 billion. On September 10, 2012, the company announced that John Manzoni had agreed to step down as president and CEO, effective immediately, and would be replaced by board member Hal Kvisle . Kvisle had been on Talisman's board of directors since 2010 and was previously CEO of Canadian pipeline builder TransCanada Corp. between 2001 and 2010. The news surprised market analysts and fueled speculation that Talisman
1050-630: Was awarded exclusivity by The Crown Estate to develop the Beatrice offshore wind farm in the Outer Moray Firth just to the north of the existing demonstrator turbines. In April 2014, the UK Energy Secretary Ed Davey announced that the Beatrice Wind Farm would be one of eight projects awarded a contract for difference to set the price paid for its power for the next 15 years. On 23 May 2016 approval
1085-601: Was flashed off and produced water removed. Each separator had a capacity of 50,000 barrels per day. From the Separators oil was routed to the Crude Oil Transfer Pumps, through fiscal metering and into the 16-inch pipeline to shore. Produced water flowed to an oily water interceptor before discharge overboard. Flash gas was used as fuel and the surplus was flared. Treated injection water flowed to 3 booster pumps into 5 sea-water injection pumps each had
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1120-521: Was given for a £2.6bn expansion of the wind farm to 84 turbines with a capacity of 588MW of electricity, enough to supply 450,000 homes. In June 2016 contracts were awarded to the Global Energy Group, in association with Siemens Wind Power , for fabrication and assembly of the turbines at Nigg Energy Park in Ross Shire, and to Wick Harbour for the assembly and transport process. Several other Highland towns are expected to benefit during
1155-657: Was later dismissed by the US District Court for the Southern District of New York. The court concluded that the plaintiffs had no admissible evidence to support the claims against Talisman Energy. The finding in the U.S. lawsuit is consistent with the report of the Harker mission in 2000, which admonished Talisman for not doing enough to stop human rights abuses by other groups, but did not find that Talisman had actively aided in any atrocities. In response to
1190-461: Was then a greater potential takeover target, similar to that of industry peer Nexen Inc. when it agreed to a $ 15.1 billion acquisition made by China National Offshore Oil Co. two months earlier. However, Kvisle stressed that he and the board would be focused on making Talisman a "sustainable long-term, successful Canadian company" rather than putting it up for sale. In October 2013, activist investor Carl Icahn acquired around 61 million shares in
1225-601: Was under way and the government of Sudan was almost totally reliant on oil revenues for its war effort. This war effort was repeatedly accused of war crimes , human rights abuses, and genocide . International observers accused the Sudanese government of forcibly displacing residents to make way for oil exploration and exploitation. As conditions in Sudan worsened, an international outcry developed led by NGOs and churches. They called for divestment in Talisman shares and pushed
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