After participating in Sasol Canada's feasibility study for a GTL (gas-to-liquids) facility, Talisman Energy has decided not to proceed with the next phase of the project, the company said Thursday.
"After careful consideration, we have concluded that there are better ways to allocate capital in support of our strategy," said John A. Manzoni, CEO.
"Talisman's immediate focus is to accelerate investment in near-term liquids opportunities, with the goal of increasing liquids and oil-linked gas production to 300,000 barrels a day by 2015, he added.
We wish Sasol every success as they evaluate the next phase of this project, and we look forward to continuing a positive relationship in the joint development of our Montney assets."
Talisman was granted the option to participate in the feasibility study as part of the ongoing partnership between Talisman and Sasol that includes two 50% working interests in two natural gas assets and associated infrastructure in Talisman's Montney shale resources in northeast British Columbia.
Talisman's decision to exit the GTL project will not impact the upstream partnership.