Talisman Indonesian production slightly up in Q3 2004

Canadian top oil company Talisman Energy announced Tuesday its Indonesian net oil, gas production for the third quarter of the year averaged 37,296 barrels of oil equivalent per day (boepd), slightly up from 35,981 boepd in the same period of last year.

Talisman said its Indonesian natural gas sales improved by 17 percent to 141 million cubic feet per day (mmcfd) compared with last year?s period, following increased sales to PT Caltex Pacific Indonesia?s steam flood project in Riau Province and to Singapore.

Talisman holds interest in four producing areas, that is Corridor Block (36 percent) and Ogan Komering Block (50 percent) in South Sumatra, Jambi Block (40 percent) in Jambi, and Tanjung Block (100 percent) in South Kalimantan. The company also has a 25 percent interest in Santos-operated Madura Block in East Java. This Block is expected to commence production in the second half of 2005.

Talisman also reported that during the third quarter, the Corridor Block had sealed an agreement to sell 2.3 trillion cubic feet of gas to PT Perusahaan Gas Negara Tbk. Gas sales are expected to commence in the first quarter of 2007 at 170 mmcfd and will plateau at 400 mmcfd in 2012 until the contract termination in 2023. (Robert)