Talisman reports increased Indonesian oil, gas production

Canadian oil firm Talisman Energy reported on Wednesday that its first quarter 2008 Indonesian oil and liquids production increased by 3% compared to the same period in 2007, averaging 11,441 BPD in the quarter.

Gas production was 18% higher than last year, averaging 249 MMCFD due to strong gas nominations due principally to completion of a new pipeline to West Java.

The company said during the quarter West Java gas take increased from 50 MMCFD to an average of 80 MMCFD. The Suban 10 and 11 wells flowed at a record combined rate of 311 MMCFD gross sales gas in early February.

Talisman has a 36 percent non-operating interest in its Indonesian main asset Corridor Block PSC, which supplies gas to Chevron?s Central Sumatra oil fields, Singapore and West Java through pipeline.

Talisman?s upstream other assets include Ogan Komering PSC, ONWJ Block, Sageri and Pasang Kayu Blocks and Tangguh LNG project.

In 2007, production in Indonesia averaged 49,276 BOEPD.

Talisman expects that capital spending in 2008 in Indonesia will be approximately $105 million and plans to participate in up to six exploration and 26 development wells.(alex)