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Talisman CEO John ManzoniJeff McIntosh

Talisman Energy Inc. says it expects full-year exploration and development spending to remain steady at about $4-billion (U.S.) for 2011.

The Calgary-based energy producer also says it estimates that production will grow 5 to 10 per cent for the year.

Talisman said it had production of about 415,000 barrels of oil equivalent per day in 2010.

Meanwhile, the company targets about $370-million of spending on non-cash capital items.

The budget includes about $1.7-billion set aside for North American operations, though the company noted it aims to reduce the amount it spends on dry gas by 35 per cent.

An estimated $700-million to $800-million will be put towards development of projects in Southeast Asia.

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