Mixed production picture for Talisman’s North Sea fields

Talisman Energy’s production from UK North Sea fields last year averaged 89,000 boe/d, down 7% from 2008.

Offshore staff

CALGARY, Alberta -- Talisman Energy’s production from UK North Sea fields last year averaged 89,000 boe/d, down 7% from 2008. A combination of planned and unplanned shutdowns and declines were responsible, says Talisman, offsetting the reinstatement of production from the Galley and Petronella fields, and the start-up of the Affleck field this past August.

The company allocated $531 million to UKCS development projects last year, with just under half directed at the Auk North and Auk South projects in the central North Sea. Further funds were committed to the Burghley development, completing the Scapa production riser upgrade project, and drilling of seven development wells.

Auk North is scheduled to come onstream in 2011, while re-development of Auk South is progressing, with detailed engineering complete. Here first production is expected in 2012. At Burghley, installation of subsea and topside facilities are scheduled to be completed this year, with first oil expected towards year-end.

During 2009, Talisman made discoveries at Godwin and Shaw in the Central North Sea. Pre-engineering is under way for development in both cases, and Talisman also is working on a tieback for the 2007 Cayley discovery via its Montrose/Arbroath facilities.

Offshore Norway, the company’s production averaged 44,000 boe/d in 2009, a 26% increase over 2008, due mainly to higher volumes from Varg (thanks to three new wells) and the newly onstream Rev field. Talisman invested $528 million in Norwegian field development, 75% of this for its Yme project in the North Sea.

First-phase drilling on Yme was completed in the fourth quarter, including three horizontal producers and two water injector wells. First oil is expected in the second half of 2010.

Last year, Talisman made a discovery on the Grevling prospect, and plans to drill an appraisal well later this year.

02/11/2010

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