Talisman Updates North Sea Activities

Talisman Energy (UK) Limited, has resumed production in the Ross oil field and has commenced production in the Blake oil field ahead of schedule. Initial combined production from the fields will be 65,000 bbls/d with production expected to peak at around 85,000 bbls/d.

Production from Ross was suspended in March 2001 to allow onshore topsides modifications to the FPSO, the Bleo Holm. These modifications were completed and the vessel returned to the field for offshore hook-up ahead of the project schedule, allowing production to resume well ahead of the planned date.

The Blake field adds significant production and reserves in this core area for Talisman and will extend the producing life of the Ross field, leading to increased ultimate reserves. Blake also brings upside potential with the planned exploration drilling of the "Blake Flank" area later this year, which is expected to lead to incremental development opportunities and a further reserves increase.

Both fields are located in the Moray Firth area of the U.K. North Sea, approximately 65 miles north east of Aberdeen.