Australia's Talon Energy exits UK North Sea
Australia’s Talon Energy has exited its portfolio of UK North Sea exploration assets in order to focus on its more advanced stage projects, it said on February 11.
“We commenced our entry into the UK North Sea in 2019 with high hopes for our farmout strategy. Unfortunately, the impact of the COVID-19 pandemic and associated downturn in exploration activity in the region over the period has made execution of this strategy more difficult than anyone might have envisaged,” Talon’s executive director, Matt Worner said.
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The exit from the UK comes off the back of a successful maiden Perth basin drilling campaign at Walyering-5 and Talon’s upcoming drilling at the Gurvantes XXXV project in Mongolia. Flow testing of the Walyering-5 well, and Mongolian drilling are expected to start later in Q1 2022.