Talisman's $2.6B North Sea Project Gets UK Approval

Law360, New York (October 24, 2012, 4:36 PM EDT) -- British energy regulators on Wednesday approved a £1.6 billion ($2.6 billion) project from Talisman Energy Ltd. to extend the life of a mature North Sea oil field, the first fruit of a U.K. oil tax change last month meant to spur investment in the aging oil patch.

The project, first announced by Talisman in February, could reap another 100 million barrels of oil equivalent from the existing Montrose, Arbroath, Brechin, Arkwright, Carnoustie and Wood fields. The project also includes two new fields that also received regulatory...
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