Talisman Energy reports higher Indonesian output in Q3

Canadian oil and gas firm Talisman Energy Inc. reported Thursday its Indonesian third quarter natural gas production increased 13 percent over last year, averaging 212 million cubic feet per day (MMCFD).

Oil and liquids production also increased by 64 percent to 10,513 barrels per day in third quarter of 2006, the company said in a report released Thursday.

The company said higher production was due addition of new producing assets and to higher gas sales from Corridor PSC to Singapore Power.

Talisman acquired Paladin, which holds interests in the South East Sumatra (SES) (7.48 percent) and the Offshore North West Java (ONWJ) (2.45 percent) PSCs in January 2006.

Talisman has a 36 percent interest in the Corridor PSC, which is located in South Sumatra.

Talisman said construction of the Corridor natural gas pipeline to West Java is progressing with completion seen delayed to the ned of second quarter of 2007.

Talisman also said wellsite preparation for six wells has been completed on the Ogan Komering block and the first well is expected to be spud in the fourth quarter of 2006.

Ogan Komering PSC is located in South Sumatra. Talisman holds a 50 percent interest and operatorship of the block. (Robert)