Spain's Repsol has asked Bank of America-Merrill Lynch to value its UK North Sea portfolio as it considers leaving a troubled joint venture with China's Sinopec, according to two banking sources who spoke to Reuters. Repsol Sinopec Resources UK was formed in 2015 as part of the Spanish producer's US $8.2 Bn (￡6 Bn) acquisition of Canada's Talisman Energy, which held the North Sea assets in a joint venture with Sinopec.
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