Mar. 2013 - The partners of the Yme field development project, led by Talisman Energy, reached an agreement with SBM Offshore to terminate the beleaguered Yme MOPUstor project. The agreement accounts for scrapping the existing above surface structure and ending all joint activity for an agreed cost. Ownership of the existing subsea equipment will be transferred from SBM to the Yme license holders. SBM will pay an upfront settlement of $470 million, at which point Talisman will complete work needed to remove the MOPU from the field. Talisman was forced to evacuate project personnel in July 2012 due to structural weaknesses that were identified on the MOPU.

Jul. 2012 - SMB Offshore and Talisman, along with their respective consultants, held a scheduled meeting on July 12 to address issues arising from potential cracks in the grouting surrounding the legs of the Yme MOPU STOR platform, as well as Talisman's decision to de-mobilize and evacuate the platform 48 hours earlier.

The meeting resulted in DNV, acting as a third-party assessor, producing a near-term report on behalf of Talisman and SBM to address the safety of the platform. After close examination of reports presented by SBM Offshore - discussions regarding the cause and treatment of potential cracks - SBM maintains that the platform is a safe operating environment. Talisman, the operator of the platform, has yet to decide whether or not to remobilize.

An executive of SBM Offshore reiterated that they continue to be committed to completing the facility "swiftly, efficiently and safely" for the benefit of Talisman and Norway. OBM is currently determining alternative methods for re-boarding the platform to finish its work.

Jul. 2012 - Talisman Energy has evacuated construction personnel from the Yme oil platform in the Norwegian sector of the North Sea after structural issues were discovered. The operator removed 140 workers from the Yme platform late Tuesday after finding weaknesses in the platform's supporting structure. Dow Jones reported that in May the company took a $250 million write down on the project and delayed production for an unspecified amount of time. It also said the standards to which the platform had been built had fallen behind Norwegian standards. Oil production was scheduled to start next year.

Jan. 2012 - SBM Offshore says that productivity of work being performed on the MOPUstor platform for the Yme field has been impacted due to poor weather conditions in the North Sea. The operator and SBM Offshore are currently evaluating the related schedule and cost impacts of the development. Yme will be developed by 12 production wells and injection wells, of which five will be subsea completions. The wells will connect to a production platform for processing. Production from the field is expected to commence in 2012 and reach a peak production rate of 40,000 bopd. Yme is situated in Production License 316, which Talisman Energy operates, holding a 70 percent interest; Revus Energy holds 20 percent; and Pertra ASA holds 10 percent.

Oct. 2011 - The Petroleum Safety Authority Norway has granted Talisman Energy permission to use the MSV Regalia mobile living quarters facility on the Yme oil field. The field is being redeveloped with a jackup production facility placed on a storage tank on the seabed on the Yme gamma prospect, connecting to a subsea facility on Yme Beta, located about 12 kilometers from the prospect. The planned start up for the use of MSV Regalia is early November 2011 and the facility will be used for three to six months. The Yme field is located 62 miles (100 kilometers) off the coast of Norway in a water depth of 305 feet (93 meters) on Blocks 9/2 and 9/5 in the southeastern region of the North Sea. Talisman Energy operates the field.

Jul. 2011 - SBM Offshore announced the Yme platform was successfully installed in the North Sea. The company is also performing commissioning activities, as well as any remaining construction work to prepare the facility for start of production. Yme is expected to commence production by year-end. The Yme field is located 62 miles (100 kilometers) off the coast of Norway in a water depth of 305 feet (93 meters) on Blocks 9/2 and 9/5 in the southeastern region of the North Sea. Talisman Energy operates the field.

Jun. 2011 - Talisman Energy granted Prosafe a Letter of Intent for a 107-day contract using the MSV Regalia for accommodation support at the Yme facility in the Norwegian sector of the North Sea. On site operations should commence in early November 2011. Total value of the contract for the fixed-time is nearly US $34 million. The Yme field is located 62 miles (100 kilometers) off the coast of Norway in a water depth of 305 feet (93 meters) on Blocks 9/2 and 9/5 in the southeastern region of the North Sea. Talisman Energy operates the field.

May. 2011 - Talisman Energy reported that redevelopment of the Yme field continues to progress and is nearing completion. The operator plans to install and commission the topside facilities when weather permits. The topsides have been in Stavanger since late last year waiting on an adequate weather window to allow installation, said the operator. Talisman stated it is taking advantage of the delay in installation to complete required rework onshore, which reduces the duration of the offshore hook-up and commissioning. Talisman's plan was to commence first oil in July and, due to these issues, the company is now anticipating that Yme will be onstream by the end of the fourth quarter. The Yme field is located 62 miles (100 kilometers) off the coast of Norway in a water depth of 305 feet (93 meters) on Blocks 9/2 and 9/5 in the southeastern region of the North Sea. Talisman Energy operates the field.

Jul. 2010 - Talisman Energy reported the topsides for the Yme platform are complete, and ready for load-out from the construction yard in Abu Dhabi. Load-out and transportation to Norway is planned for August, and if the installation process goes accordingly, first production from the field is anticipated towards the end of the year. Development drilling continues and is scheduled for completion in the third quarter. The Yme field is located 62 miles (100 kilometers) off the coast of Norway in a water depth of 305 feet (93 meters) on Blocks 9/2 and 9/5 in the southeastern region of the North Sea. Talisman Energy operates the field.