Talisman to Drill Gyda Sor Well with Maersk Guardian Jackup

Petroleum Safety Authority Norway

Talisman Energy Norway AS has been granted consent to conduct exploration drilling of well 2/1-13S with the jackup Maersk Guardian.

Well 2/1-13S is part of production license 299 and is located on Gyda Sor in the southern North Sea. The closest distance to land (Jaeren) is approximately 235 kilometers.

The well has the following geographical coordinates:

  • N 56 degrees 47' 11.51"
  • E 03 degrees 2' 57.17"

According to the application for consent, the planned start-up of drilling is at the end of October 2008 at the earliest. The planned duration of the activity is approximately 112 days.

Talisman’s subsidiaries hold interests in two operated fields in the Gyda Area (interests of 18% and 61% in the Blane and Gyda fields, respectively), and one non-operated field (with an interest of 10%). Production in 2007 averaged 8,152 boe/d, which accounted for 25% of Scandinavian production.

In 2007, Talisman drilled five development wells (which includes two injection wells) and completed the Blane development. One exploration well was drilled, and an additional exploration well drilling over year-end was successful in early 2008. In addition, Talisman acquired, through a cross-license unitization, a working interest in the non-operated Tambar field.

Talisman expects that capital spending in 2008 in the Gyda Area will be approximately $131 million and plans to drill one exploration and three development wells (which includes one Blane injection well shared with the MNS Area).