Talisman farms out North Sumatra exploration block

By Febry Silaban

Canadian oil and gas firm Talisman Energy is in the process of farming out up to 50 percent of its interest in the Andaman III block, offshore North Sumatra, according to an industry source.

The source told Petromindo.com on Thursday that during recent road show made by the company in Houston, US, there were 30 companies which have expressed interest in the block. The number of interested firms has now been narrowed to three, the source added.

?There is no national company,? the source said, hoping that by late this year, the farm out process will be completed.

Talisman was awarded the production sharing contract for the Andaman III block in 2009, holding 100 percent interest.

Editing by Reiner Simanjuntak