Pertamina Starts Talks to Buy Stake in Talisman's Shale Acreage in Canada

Indonesian state owned energy company Pertamina has held talks with Talisman Energy about buying stake in latter’s Duvernay shale gas acreage in Alberta, a company official told Financial Post.

Pertamina’s president commissioner and officials from Talisman met this week to discuss the issue.

“We are still at the infant stage,” Sugiharto said on the sidelines of an energy conference in Calgary, reports Financial Post. He did not provide other details.

Acquiring a stake in Talisman’s Alberta gas fields would be the state-run company’s first foray into Canada’s oil and gas industry, Sugiharto said.

The Indonesian company has plans to spend $61-billion over the next five years, with 70% for gas development.

According to Financial Post, Talisman has been seeking a partner to develop its Duvernay holdings as it looks to raise as much as $2-billion from asset sales over the next 12 to 18 months in a bid to cut debt.