Talisman Energy signs Qatari exploration sharing agreement
Talisman Energy Qatar, a wholly owned subsidiary of Talisman Energy, has signed an Exploration and Production Sharing Agreement with the Government of Qatar covering offshore Block 10 in Qatar.
The signed agreement now awaits ratification by the Emir of Qatar, Sheikh Hamad Bin Khalifa Al-Thani, which Talisman expects will occur within the next 30-60 days.
Block 10 was made available in a formal competitive bidding round held by the state oil company, Qatar Petroleum, in 2001. The block is located offshore in shallow waters some 100 kilometers northeast of Doha and covers an area of 784,000 acres. The block is situated between the Al-Khalij oil field to the east and the Al-Shaheen oil and North gas fields to the west.
The first exploration term is for a period of five years during which time Talisman will conduct exploration activities including reprocessing existing 2D seismic data, acquisition of new 2D and 3D seismic data and drilling three wildcat wells.
Talisman Energy is one of the largest independent Canadian oil and gas producers with operations in Canada, the North Sea, Indonesia, Malaysia and Vietnam. Talisman is also conducting exploration in Algeria, Trinidad, Colombia and the United States, through its respective subsidiaries. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
- Middle East operations contribute to Talisman’s $2.6 billion cash flow in 2002
- Qatar Petroleum increases Al-Khalij Field production
- Devon Energy signs production sharing agreement in Syria
- Jordan signs first oil production sharing agreement in eight years
- Talisman sells off Sudan oil assets for $758 million