Talisman Wins Malaysian Deal Zacks Investmentupdated May 29, 2012TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.Talisman Malaysia Limited – an affiliate of Talisman Energy (TLM) has won a new production sharing contract (PSC) from the national oil company of Malaysia – Petroliam Nasional Berhad or PETRONAS. Per the agreement, Talisman will be engaged in production, development and enhancement of oil recovery from the Kinabalu oil fields in Malaysia. The acreage, which consists of Kinabalu Main, Kinabalu East and Kinabalu Far East fields and offshore Sabah, consist of several mature fields, with high development potential. This is PETRONAS’ first progressive volume-based" (PVB) PSC that will develop more fields in Malayasia. Talisman and PETRONAS intend to make a capital investment of over $1 billion for the execution of this contract. Talisman will act as an operator of the field with a 60% working interest, while PETRONAS will control the remaining 40%. Talisman, which exhibits a successful record of improving production and boosting the life of mature fields, remains confident about this contract. Calgary, Alberta-based Talisman Energy is a major independent oil and gas exploration and production company, with operations in North America (primarily Canada) and several international regions. We maintain our long-term Neutral recommendation on the stock. Talisman, which operates in the industry along with Canadian Natural Resources Ltd. (CNQ) and Encana Corp. (ECA), currently, has a Zacks #3 Rank, which is equivalent to a Hold rating for a period of one to three months. With this contract, Talisman has expanded its operation base globally and has strengthened its footing in the South East Asian energy sector. We believe that the company is set to take further investment opportunities in this growing economic region in the coming days. However, as is the case with other independent exploration and production companies, Talisman Energy’s results are directly exposed to oil and gas prices, which are inherently volatile and subject to complex market forces. Moreover, the company’s overseas operations remain vulnerable to various geo-political risks. CDN NTRL RSRCS (CNQ): Free Stock Analysis Report To read this article on Zacks.com click here. Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.