Talisman to meet CNOOC to discuss Tangguh LNG case: Report
Wednesday, June 13 2007 - 01:44 AM WIB
Head of Canada's Talisman Energy Inc. will meet with officials from Chinese oil firm CNOOC Ltd. (CEO) on Friday in a bid to resolve a lawsuit over the CNOOC’s stake in Tangguh LNG project.
Jim Buckee, chief executive of Talisman, signaled Tuesday that he hoped the case would be resolved before Nov. 6, when it's due to be heard in the U.S. at the 68th District court in Dallas, Texas.
"We would hate to be in a court room," Buckee said as quoted by Dow Jones on the sidelines the 12th Asia Oil and Gas Conference, a major industry event that ends in Kuala Lumpur later Tuesday. "We inherited (the case) so we want to resolve this in the right way."
He declined to comment further.
In May, CNOOC disclosed it faced litigation over its 17 percent stake in the $5 billion Tangguh project, which is expected to begin commercial production of liquefied natural gas sometime in 2008-09. (*)