Repsol’s Integration of Talisman gets Passing Grade in Norway
Spanish oil company Repsol bought the Canadian energy company Talisman in 2015 for $8.3 billion, plus assumed debt of $4.7 billion.
Given that Talisman had offshore oil and gas assets in Norway, the Norwegian authorities have performed an audit of the integration process between Spanish oil giant’s subsidiary, Repsol Exploration Norge and Talisman subsidiary, Talisman Energy Norge.
The Petroleum Safety Authority Norway, a body conducting the audit, said on Monday that the audit was done to verify that the integration process of Repsol’s and Talisman’s Norwegian subsidiaries has been done in accordance with regulations.
The PSA said that the audit focused on the establishment of the management system, employee participation, continuous improvement, the company’s identification and assessment of health, safety and environment (HSE) risks linked to the integration and the company’s follow-up of the integration process.