Talisman signs PSC for Block PM-314 off Malaysia

April 6, 2004
Talisman Energy Inc., Calgary, signed a production sharing contract for Block PM-314 covering 2.3 million acres adjacent to Block PM-305 off Malaysia where Talisman Malaysia Ltd. struck oil last year.

By OGJ editors

HOUSTON, Apr. 6 -- Talisman Energy Inc., Calgary, signed a production sharing contract for Block PM-314 covering 2.3 million acres adjacent to Block PM-305 off Malaysia where Talisman Malaysia Ltd. struck oil last year.

Block PM-305 contains the South Angsi discovery (OGJ Online, May 15, 2003).

Block PM-314 is 70 km off the eastern coast of Peninsula Malaysia in 30-70 m of water. The exploration term for Block PM-314 is for 5 years, during which time Talisman Malaysia is slated to acquire a 3D seismic survey and drill four wildcat wells.

Talisman Malaysia is operator and holds a 60% interest. Petronas Carigali Sdn. Bhd., the exploration and production subsidiary of Malaysia's state owned Petroliam Nasional Berhad, holds 40%.