Talisman oil, gas production in Indonesia down in Q3

Canadian oil, gas firm Talisman Energy Inc. said Monday its Indonesia daily oil and gas production fell from 19,707 barrels of oil per day and 110 million standard cubic feet of gas (MMCFD) during the third quarter of last year to 18,797 BPD of oil and 88 MMCFD in the third quarter this year.

According to the company?s quarterly report, Indonesian gas production reflected fluctuations in demand from Caltex Pacific Indonesia and a lower recorded interest in the Corridor production-sharing contract (PSC) in Southern Sumatra. Talisman had been recording a 40 percent interest in the natural gas production of Corridor PSC.

The company also said during the quarter, it spend C$ 22.1 million in exploration and development expenditure, a total of $ 56.1 million for the first nine month of the year.

The report said that at Ogan Komering joint operating body (JOB) in South Sumatra, a second six well drilling program for 2001 was started. At the end of the quarter, nine wells had been completed, seven wells were successful and two wells were abandoned.

At Tanjung oil producing block in Kalimantan, the company said the 2001 well stimulation and deepening program continues to be successful and net Talisman production increased to 6,900 BPD

The company said at Corridor PSC, the upstream development projects to supply increased gas to Caltex and to Singapore continued on schedule. The Suban 7 appraisal well was drilled successfully and will soon be tested.

Corridor gas production was lower during the quarter with fluctuations in demand by Caltex, however, by the end of the quarter Talisman's share of production had returned to approximately 100 MMCFD.

The Madura PSC in East Java was farmed out to Australia?s Santos Limited during the quarter; subject to Pertamina consent. Talisman will retain a 25 percent interest in the block. (alex)