Talisman Energy is reported to be looking at a possible sale of all or part of its Asian asset portfolio, valued at around $4 billion.
The Canadian independent, led by chief executive Hal Kvisle, is looking to sell off assets to cut debt and bolster its balance sheet, with its Norway portfolio – including the ill-fated Yme field project – already on the block.
The company is now also reviewing its Asian oil and gas portfolio, which is considered a core part of its business, and is working with Goldman Sachs on the review, sources familiar with the matter told Reuters.
It is unclear whether Talisman will opt to sell the entire portfolio or retain some assets, with a partial listing of the assets also one of the options being discussed, they said.
Talisman owns oil and gas assets in Indonesia, Malaysia, Vietnam, and the Asia-Pacific region that are expected to generate about $1.2 billion, or nearly half, of Talisman's 2014 estimated cash flow, according to company presentations.