Talisman Sinopec Energy UK Limited has unveiled its new branding, following the creation of the new joint venture company.
TSE UK was formed in December 2012, after the successful completion of the JV deal between Talisman Energy Inc and Addax Petroleum UK Limited, an indirect wholly-owned subsidiary of China Petrochemical Corporation (Sinopec Group).
The new branding was formally unveiled on Monday, 10 June 2013, at a ceremony at Talisman House, Aberdeen. The event was attended by Mr Yi Zhang, CEO, Addax Petroleum Corporation; Geoff Holmes, CEO, TSE UK; John Baillie, Senior Vice President, Development and Growth Strategy, Addax Petroleum, and Paul Warwick, Executive Vice President Europe-Atlantic, Talisman Energy Inc.
Mr Zhang said: “This is an important day as it marks the launch of the TSE UK logo which reflects the company’s identity and announces a bright future. With the Talisman asset base, Sinopec’s resources and Addax Petroleum’s expertise, TSE UK is in a good position to redevelop in the North and Central North Sea.
“It is important for everyone to understand that the creation of TSE UK is part of a greater strategy. The work TSE UK staff will be carrying out in Aberdeen and in the North Sea will help define best practice within the entire Sinopec Group.
“Together, we form a stronger, larger company, better prepared to face the future and its challenges. We have unveiled our new logo, but I already look forward to the day when we will celebrate operational achievements together.”
Mr Holmes added: “It is an exciting time for us all at TSE UK, and with the commitment of one of the world’s largest energy companies in Sinopec, we have the people and the resources to unlock our potential.
“Our purpose is to realise the tremendous opportunities which continue to be offered in the North Sea and build a safe, profitable and sustainable business for our employees, shareholders, partners and suppliers.
“Our new branding is not only a functional necessity, but a symbolic reflection of the new world in which we are operating today, and it sends out a clear message to the industry of the bright future that is ahead of us.
“We look forward to continue working closely with our shareholders and joint venture partners, and to delivering success.”
TSE UK is one of the newest, most ambitious, and most dynamic companies discovering and producing oil and gas in the North Sea. The company is one of the North Sea’s largest operators, operating 46 fields on the UK Continental Shelf with 11 offshore installations and the onshore oil terminal at Flotta, Orkney.
In addition, a number of major projects will be advanced this year including the £1.6 billion Montrose Area Redevelopment project (MAR), which will extend the life of one of the UK’s oldest platforms – established in 1976 – out to at least 2030. The MAR project will reinvigorate established fields and integrate them with two undeveloped fields, Cayley and Shaw.
When it comes online in 2016, the MAR project will unlock 100 million barrels of reserves. It will create or sustain more than 2,000 jobs in construction, fabrication, installation, subsea engineering and drilling. The UK government recognised the project’s value to the UK by making it the first project to benefit from the brown field tax allowance introduced last year to encourage the renewal of existing resources.