First oil for Talisman off Vietnam

Talisman - press release
Wednesday, May 22, 2013

Talisman Energy Inc. has announced first oil production from its Hai Su Trang and Hai Su Den (HST/HSD) development, offshore Vietnam. Gross production is expected to reach 15,000 b/d once the facilities are fully commissioned.

"We are delighted to have achieved first oil ahead of schedule and under budget," said Paul Blakeley, EVP Asia-Pacific. "This development will help Talisman meet its regional and corporate objectives of adding near-term, high-margin liquids volumes and associated cash flow. In addition, it will allow us to evaluate the further development potential of the HSD field.

"I would like to thank our colleagues from PetroVietnam and its subsidiary, PetroVietnam Production Exploration Corporation (PVEP), as well as PTSC, the EPCI contractor, and PV Drilling. Working closely together, we have been able to deliver first oil in less than 18 months from project sanction. This is a remarkable achievement, and consistent with Talisman's objective of bringing projects on-stream safer, better, faster and at lower cost."

The HST/HSD development is comprised of two offshore oil fields discovered within Block 15-2/01, on the western edge of Vietnam's prolific Cuu Long Basin. Block 15-2/01 is operated by the Thang Long Joint Operating Company (TLJOC) in which Talisman (Vietnam 15-2/01) holds a 60% working interest and PVEP holds the remaining 40%.

The development is located 75 km off southern Vietnam in shallow water (45 m), and consists of two wellhead platforms which have been tied back to the existing Te Giac Trang FPSO. Four wells at HST have been drilled, completed and tied-in, and two previously drilled wells at HSD were completed and tied-in by TLJOC, utilizing PV Drilling. Both platforms were built in Vietnam by PTSC Mechanical and Construction, a subsidiary company of PetroVietnam.

Talisman Energy Inc. is a global upstream oil and gas company, headquartered in Canada. Talisman has two core operating areas: the Americas (North America and Colombia) and Asia-Pacific.

Categories: Production Asia Shallow Water

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