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Japanese AOC Holdings buys a 10% stake in Norwegian oil field YME.

NORDIC BUSINESS REPORT-18 February 2009-Japanese AOC Holdings buys a 10% stake in Norwegian oil field YME(C)1994-2009 M2 COMMUNICATIONS LTD http://www.m2.com

Tokyo-listed AOC Holdings (Tokyo: 5017) is planning to acquire a 10% stake in the YME oil field in the Norwegian North Sea from Canada's Talisman Energy (NYSE: TLM), AOC said on Tuesday (17 February).

Oil production at Norwegian field stopped in 1990 but is expected to commence again in the fourth quarter of 2009, with an average of 25,000 barrels per day released in the first four years.

As a result of the sale to AOC, Talisman Energy will hold a 60% stake in the YME oil field, the company said in a statement.

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Publication:Nordic Business Report
Date:Feb 18, 2009
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