Norway approves Talisman's extension of Gyda platform use
Norwegian safety regulators have given Canadian oil company Talisman's local business consent to use the nearly
20-year-old Gyda platform for another 21 years.
The platform was BP's until 2003, when Talisman took over. The structure's "design life" would have expired by 2010,
but a Talisman redevelopment might keep it earning to 2030.
Gyda lies between the North Sea's Ula and Ekofisk fields, from where oil and gas are sent to Teeside in the United Kingdom and Emden on the Continent.
Talisman spent upwards of $ 130 mm in the Gyda Area in Norway, including three development wells.
The company is seen boosting production at Gyda by up to 20 % beyond what BP could accomplish, thanks to today's
technology.
But the Norwegian Petroleum Directorate also recently awarded Talisman the Increased Recovery Prize for "create value
where others have given up", notably for the North Sea oilfields Yme and Gyda.
