Talisman holds a 30% interest in Block 46/02 and in the Truong Son Joint Operating Company which operates the block. Block 46/02 lies adjacent to PM-3 CAA/46-Cai Nuoc. Talisman also holds a 60% interest in Block 15-2/01 and in the Thang Long Joint Operating Company which operates the block. Block 15-2/01 lies in the Cuu Long Basin, the predominant oil producing basin in Vietnam. The Company also holds a 49% operated interest in offshore Blocks 133 and 134 in the Nam Con Son Basin.
In 2010, Vietnam production averaged 2,200 bbls/d from Block 46/02, which accounted for approximately 2% of Southeast Asia production.
In 2008, the Government of Vietnam approved reserves assessments for the Hai Su Trang (‘‘HST’’) and Hai Su Den (‘‘HSD’’) fields within Block 15-2/01. A declaration of commerciality occurred in early 2009. The Thang Long Joint Operating Company continues to progress development options for the HST and HSD discoveries and has entered into a heads of agreement with Hoang Long Joint Operating Company (‘‘Hoang Long’’) for an unprocessed oil tieback to the Hoang Long’s facilities to the south of Block 15-2/01.
Drilling of a four infill well program in Song Doc began in the third quarter of 2010 and was completed in January 2011.
In 2011, Talisman plans to progress the sanction of HST/HSD development within Block 15-2/01.
