Talisman reports higher production in Q1

By Romel S. Gurky

Canadian oil and gas firm has reported that its Indonesian production in the first quarter of 2012 was higher than the same period last year, due primarily to the Jambi Merang volumes and improved operational efficiency at the Tangguh LNG plant.

The company did not mention the overall production figure during the quarter. In the same period last year, Petromindo data shows that production reached 74,000 bopd.

In its quarterly report, Talisman announced the increase in production was also due to the completion of facility optimizations at the Suban gas plant in the Corridor PSC which pushed up gross throughput by 45 mmscfd. Overall, the Corridor PSC is now producing at record level of over 1 bscf gross sales of gas.

Meanwhile, upstream authority BPMIGAS recorded in March that the Jambi Merang project has produced 5,654 bpd oil production as of early that month.

Talisman has a 36 percent interest in the ConocoPhillips-operated Corridor block PSC in South Sumatra, a 3.06 percent interest in Tangguh LNG project in West Papua and 25 percent interest in Jambi Merang.

Editing by Dadan Wijaksana