“Nothing will happen between now and January, because of elections,” said John Manzoni, chief executive officer. Talisman Energy plans to “increase exposure over time” to the region when issues including export payments are settled between both the sides.

The company is aiming 2-3 trillion cubic feet of gas resources in Papua New Guinea.

In June 2009, it agreed to acquire Rift Oil Plc for GBP108 million ($178.7 million) in cash.

“We’ve been drilling some wells,” Manzoni said. “We will look at any other opportunities and see if we can expand.”