Talisman reports increased Indonesian oil, gas production

Canadian top oil, gas firm Talisman Energy reported on Tuesday that its Indonesian April-June 2008 quarter production averaged 57,242 BOEPD, 22% higher than the same period last year and 8% higher than the previous quarter, primarily due to increased West Java natural gas sales and higher Singapore gas takes.

The company said natural gas sales to West Java increased from 80 MMCFD to an average of 100 MMCFD in line with plan. Talisman's gas sales in Indonesia averaged 271 MMCFD, up 26% from a year ago.

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.

During the quarter Talisman also signed a memorandum of understanding with Pertamina, the national oil company, that provides the opportunity to evaluate and participate in two enhanced oil recovery projects.

In addition, a 3D seismic survey was completed at Pasangkayu in preparation for the first exploration well to be drilled in 2009, the company said.

Talisman was also awarded two Joint Study Agreements in the Sageri area and bid on a new exploration licence in a recent bid round.(alex)