Canadian Talisman Company to sell Sudanese oil shares

Published July 1st, 2001 - 02:00 GMT

The Canadian Talisman Energy Company recently revealed that it is presently evaluating offers to sell its shares of various crude oil production projects in Sudan, according to Al-Hayat daily. 

 

The Investment Manager of Talisman, David Mann, stated that certain investment parties are interested in purchasing his company’s oil privileges in Sudan.  

 

Oil sources reported that these parties are most likely the Saudi Gulf Investors International Group and the Swedish London Oil. Apparently, the Canadian firm is considering selling its 25 percent asset holding in the Large Nile Oil Project.  

 

The sale of these shares may be related to recent protests by the international community, including Amnesty International, that the company is indirectly contributing to human rights violations in Sudan. 

 

Fighting between the forces of the Sudanese government, opposition forces and various local militias continues in the oil-rich regions of the country, leading to the feeling that Talisman should withdraw from the region.  

 

The company, though, has refuted these clams, saying that oil revenues will benefit all Sudanese people, and that the company’s "constructive engagement" policies will ultimately lead to improved human rights conditions. 

 

Talisman is currently considered the largest independent Canadian oil and gas producer with operations in Canada, the North Sea, Indonesia and Sudan. Talisman is also conducting exploration in Algeria, Trinidad and Colombia. –(MENA Report)  

© 2001 Mena Report (www.menareport.com)


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