Offshore staff
CALGARY, Canada – Talisman Energy (TSX:TLM;NYSE:TLM) has drilled six of eight planned development wells on the PM-3 CAA Northern Fields offshore Malaysia.
Five of the wells are in production, and all are meeting or exceeding expectations, the company adds.
In December, Talisman will also assumeoperatorship of the Kinabalu project in the offshore Sabah region, with a view to further development and improve oil recovery.
Offshore Vietnam, Talisman says the Hai Su Trang and Hai Su Den development is progressing on schedule and on budget, with first production scheduled for the second half of 2013.
In the North Sea,Sinopec is set to take a 49% equity interest in Talisman’s UK business for $1.5 billion. The partners plan to invest in improving operating performance, infill drilling, and other projects to extend the lives of the mature fields and defer decommissioning.
During 2Q 2012, Talisman’s overall North Sea production declined by 29% from the corresponding period in 2011. In the UK, this was due to planned turnarounds, shut-ins to repair a gas export pipeline, and mechanical issues at several locations. The dip offshore Norway was mainly down to reduced output at the Brage and Gyda fields, and shutdown work at Brage and Rev.
Production should build toward the end of the year with contributions from new infill wells, completion of planned maintenance, and resolution of mechanical issues. Infill drilling is in progress at the Clyde and Rev fields. After the Rev well, the rig will move to Varg in the Norwegian sector to drill two infill wells.
8/01/2012
