Talisman Energy Plans New Projects In Iraq And Papua New Guinea
Talisman Energy Inc. (Talisman Energy) is planning new projects in the Kurdish region of Iraq and Papua New Guinea, Bloomberg reported. The company first wants to see a settlement between the semi-autonomous Kurdish regional government and the Iraqi central government and will wait until parliamentary elections in the country are completed.
“Nothing will happen between now and January, because of elections,” said John Manzoni, chief executive officer. Talisman Energy plans to “increase exposure over time” to the region when issues including export payments are settled between both the sides.
The company is aiming 2-3 trillion cubic feet of gas resources in Papua New Guinea.
In June 2009, it agreed to acquire Rift Oil Plc for GBP108 million ($178.7 million) in cash.
“We’ve been drilling some wells,” Manzoni said. “We will look at any other opportunities and see if we can expand.”
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