Talisman sees Indonesian production to nearly double in 2008

Canadian top oil, gas producer Talisman Energy expects its net Indonesian oil, gas production would be increased from around 35,000 barrels of oil equivalent per day (BOEPD) currently to 60,000 BOEPD in 2008 as the result of significant increase in gas sales.

In a presentation appeared on its website, Talisman said production increase would be derived from gas sales from Corridor block PSC in South Sumatra, where it holds 36 percent working interest, to West Java, Singapore and to Indonesian top oil producer Caltex Pacific Indonesia.

Talisman predicted its net gas production from ConocoPhillips-operated Corrridor block could be increased to around 300 MMCFD in 2008.

Talisman said currently Corridor block has 5.7 trillion cubic feet (TCF) in proven and probable reserve and 6.3 TCF in possible reserve.

Aside from Corridor, Talisman also has interest in Tanjung Raya block in Kalimantan, Ogan Komering block and Jambi blocks in South Sumatra and Madura Offshore block in East Java.

The company plans to spend US$45 in 2003 capital expenditure. (alex)