30 Dec 2011

Talisman seeks partner for Papua New Guinea natural gas leases

11:28 am on 30 December 2011

Talisman Energy Inc of Canada has announced is it's seeking a business partner to help the firm explore and develop four of 14 natural gas leases in Papua New Guinea .

The Sydney-based advisory RFC Corporate Finance has been engaged by Talisman to locate and screen potential investors for the western PNG licenses.

A spokesman for Talisman, Dave Mann, says their intent was always to seek a strategic partner in what is a very large license interest position, once sufficient resources have been aggregated.

The International Business Times reports that Talisman has access to nearly four trillion cubic feet of natural gas.

According to a BP study, Papua New Guinea had 15.6 trillion cubic feet of proven reserves of natural gas at the end of 2010.