Talisman Energy Progresses Development of Vietnam, Malaysia Assets
Talisman Energy Inc. is stepping up efforts on two key projects in Southeast Asia, the development of the mature Kinabalu oilfield off East Malaysia and the Ca Rong Do (CRD) discovery in the Nam Con Son Basin offshore Vietnam, a senior executive said at the Asia Upstream conference in Singapore Thursday.
The Calgary-based independent energy firm expects to declare commerciality on the Ca Rong Do, otherwise known as the Red Emperor development later this year, vice president of business development Michael Horn said.
While no further details were provided, Talisman is reportedly firming up the development concept this month for the Red Emperor oilfield development. Two options are on the table:
- a floating production, storage and offloading (FPSO) vessel tied to either subsea wells
- a small tension-legged platform
The FPSO is understood to be on the critical path for the Red Emperor development, now targeted for a final investment decision in 2015, with first production expected in 2017.
Talisman is testing for further production upside during the second half of 2014 in the Red Emperor extension. Two appraisal wells have been lined up to the east of the Red Emperor oilfield now under development. Drilling is ongoing at one of the two planned wells, Horn revealed.
The two wells being drilled by Transocean’s Discoverer Seven Seas (DW drillship), according to Rigzone’s RigLogix data, are designed to size up the potential source of the Red Emperor oil discovery to the east of Blocks 135 and 136.
The Red Emperor structure holds 67 million barrels of oil equivalent in contingent resources, data from Talisman Energy showed.
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