Talisman seeks partner for newly awarded block

Canadian top oil and gas firm Talisman Energy Inc. said on Monday it might seek partner on its newly awarded Indonesian exploration block prior to drilling.

The company is awarded Sageri block last week. The Sageri Block covers an area of 3,878 square kilometres, and is situated in water depths of 2,000 meters. It was one of five blocks offered in the frontier geological province referred to as the South Makassar Basin.

Talisman bid a three-year work program that included 5,000 kilometres of 2-D seismic, the drilling of one exploration well and signature bonus of US$1,000,000. ?The Company bid solely with a 100% working interest but will evaluate taking a joint venture participant prior to drilling,? it said.

"This is the first operated offshore exploration PSC awarded to Talisman in the last decade and is a milestone for us in Indonesia" said President and CEO Jim Buckee. "We believe that the South Makassar Basin has all the attributes of a characteristically prolific Sundaland basin. In our view, the Sageri Block has significant prospective resources, a diversity of play types and indications of a working petroleum system. It is an exciting development for the company." (alex)