Talisman to spend C$25 million in 2003 Indonesian exploration programs

Canadian independent oil producer Talisman said on Tuesday it planned to spend C$ 25 million in exploration in Indonesia next year.

The company said in its release that exploration would continue in the Corridor Block in Southern part of Sumatra where Talisman has 36 percent working interest with two wells planned. The Suban -9 well would finish drilling in the first quarter of 2003, bringing the appraisal program on the structure to a close. The North Sambar-1 well will test one of the last remaining undrilled structures on the block, said the company..

Talisman said it would also participate to drill one exploration well in the Madura block, East Java, where it had 25 percent working interest. (alex)