Talisman's Malaysian Discovery Tests at 11,300 bbls/d
Two sidetrack wells, drilled north and south of the discovery, penetrated the oil-water contacts and defined the limits of the field. The discovery is estimated to contain 25 mmbbls of proved and probable oil reserves and will be economic to develop. South Angsi is fully appraised and development planning will now proceed. First production from South Angsi is anticipated in mid-2005 at a gross rate of 15,000 to 20,000 bbls/d. A large new 3D seismic survey was acquired in Block PM-305 in 2002 and additional exploration opportunities will be evaluated for drilling in 2004.
"We are excited by the South Angsi discovery and we intend to fast track the development," said Dr. Jim Buckee, President and Chief Executive Officer. "The South Angsi discovery will allow us to establish a second producing PSC in Malaysia and represents a key step in our strategy to grow our Malaysian business. The South Angsi discovery is typical of the future of the Malay Basin and our strategy is to establish Talisman as the operator of choice for small field developments in Malaysia. Talisman's development project on Block PM-3 CAA is now 75% complete with significant increases in volumes expected during the fourth quarter of 2003."
Talisman holds a 60% interest in Block PM-305 and the remaining 40% interest is held by Petronas Carigali Sdn. Bhd., the exploration and production subsidiary of Malaysia's state owned Petronas.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension