1. Pipelines & Transportation

    Talisman to develop Tweedsmuir fields in the North Sea

    Sept. 13, 2004
    Talisman Energy (UK) Ltd., Calgary, plans in early 2005 to begin the $770 million (Can.) development of the Tweedsmuir and Tweedsmuir South oilfields Block 21/1aN about 100 miles northeast of Aberdeen. Four wells will be tied back to the Piper B platform 55 km to the north. Talisman will begin production of 40,000 b/d in late 2006.

    By OGJ editors

    HOUSTON, Sept.13 -- Talisman Energy (UK) Ltd., Calgary, plans in early 2005 to begin the $770 million (Can.) development of Tweedsmuir and Tweedsmuir South oilfields Block 21/1aN about 100 miles northeast of Aberdeen. Four wells will be tied back to the Talisman- operated Piper B platform 55 km to the north. Talisman will begin production of 40,000 b/d in late 2006.

    The oil will be processed via the Piper platform and export pipeline to Talisman's Flotta terminal in Orkney. Incremental operating costs are expected to be about $1.30/boe (Can).

    Talisman estimates that the fields contain probable gross reserves of 71 MMboe. Half of these reserves are expected to be proved in the 2004 reserves evaluation process, with additional reserves transferred as the fields are developed and brought on stream.

    Talisman holds an 87.43% working interest in the fields and has an agreement to acquire an additional 7.0%. First Oil Expro Ltd. has a 5.57% working interest.

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