Offshore staff
Malaysian and Vietnamese authorities granted Talisman Malaysia Ltd., a wholly owned subsidiary of Talisman Energy Inc., an additional 148,000 acres for the block PM-3 Commercial Arrangement Area offshore Malaysia and Vietnam.
Block PM-3 CAA covers 348,000 acres and holds six oil and gas fields, which comprise the PM-3 CAA Phase 2 and 3 projects. The PM-3 CAA project produces 60,000 b/d and 270 MMcf/d. The additional acres are on the southeastern border of the original PM-3 CAA block.
During the exploration term of the new acreage, Talisman Malaysia Ltd. will acquire a 3D seismic survey and drill one exploration well.
"The additional acreage to block PM-3 CAA represents another important step in our strategy to grow our Malaysia and Vietnam business," says Dr. Jim Buckee, president and CEO, Talisman Energy. "The PM-3 CAA additional acreage contains an extension of the highly prospective PM-3 CAA play and offers the potential for small field discoveries which, if economical, can be quickly tied back to the existing PM-3 CAA facilities."
Talisman Malaysia Ltd. operates block PM-3 CAA. Talisman Malaysia Ltd. and Talisman Malaysia (PM3) Ltd. jointly hold 41.44%. Petronas Carigali Sdn. Bhd. holds 46.06% and PetroVietnam Investment & Development Co. holds 12.5%.
06/08/05
