KUALA LUMPUR, Malaysia --Talisman Energy will spend $4.5 billion on exploration and development this year. Most of the money will go to projects in North America, the North Sea, and Southeast Asia.
James W. Buckee, Talisman president and CEO, told participants at the 12th Asia Oil & Gas Conference in Kuala Lumpur, Malaysia, on June 12 that exploration and development investment in Southeast Asia is being more than doubled this year. The company will spend $628 million in 2007, half of which will go toward PM3-CAA field development. The PM3-CAA field lies along the Malaysia/Vietnam maritime border.
This is the single largest Canadian company investment in Southeast Asia, said Buckee.