Nov. 3 (Bloomberg) -- Talisman Energy Inc., the Canadian oil explorer with reserves in North America, Europe and Asia, said a previously announced discovery in the U.K.’s North Sea may hold more than 100 million barrels of oil.

Calgary-based Talisman drilled two appraisal sidetracks to its Shaw discovery in Block 22/22a, the first of which tested at 7,700 barrels of oil equivalent a day, the company said today in a statement. It didn’t say how much oil may be recoverable.

Talisman is reviewing options for a development via its operated Montrose/Arbroath facilities in the area, the company, which operates the field with a 59 percent working interest, said. Japan’s Marubeni Corp. holds the rest.

U.K. production from continuing operations was 74,000 barrels of oil equivalent a day in the third quarter, a 33 percent decline from a year earlier, because of planned and unplanned maintenance work, Talisman said in the statement.

Calgary-based Nexen Inc., which operates Buzzard, the U.K.’s biggest oil field, said Sept. 3 its Golden Eagle field in the North Sea may hold 150 million to 275 million barrels of oil equivalent.

To contact the reporter on this story: Sonja Franklin in Calgary at sfranklin6@bloomberg.net

Last Updated: November 3, 2009 15:26 EST