Talisman Energy Seeks Partners in PNG

Talisman Energy Inc. is seeking partners to develop four of 14 natural gas leases in Papua New Guinea, media reports said.

Talisman holds 14 licences in the resource rich island.

The company wants to sell part of two wholly owned licences, one acquired in 2009 through the $177 million US Rift Oil takeover, and two partially owned natural gas licences.

Estimates suggest, Papua New Guinea contained 15.6 tcf of proven natural gas reserves as of the end of 2010.

Talisman could move its gas to the PNG liquefied natural gas project, set to launch shipments of up to 6.6 million tons per year of super-cooled gas to Japan, Taiwan and China in 2014.