(EnergyAsia, January 30, Wednesday) — Canada’s Talisman Energy Inc said a subsidiary has acquired all the shares of CNOOC Wiriagar Overseas Limited from a subsidiary of China’s CNOOC Ltd for US$212.5 million.
Talisman effectively acquired CNOOC Wiriagar Overseas Limited’s 3.06% stake in the Tangguh LNG Project on January 1 2008.
The project in Indonesia’s West Papua province consists of a number of offshore gas wells, production facilities, pipelines and LNG plant facilities with a nameplate capacity of 7.6 million tons per year. Delivery of the first cargo is expected in late 2008.
“I am pleased with this settlement,” said John Manzoni, Talisman’s President and CEO. “The purchase marks the end of a longstanding contractual disagreement inherited by both parties. I look forward to further developing our business in the region and building on our relationship with CNOOC Ltd.”
Talisman Energy Inc is an independent upstream oil and gas company headquartered in Calgary in Alberta province. The company and its subsidiaries have operations in North America, the North Sea, Southeast Asia and North Africa.