Sinopec Marks North Sea Debut With Talisman Deal

摘要

Sinopec's $1.5 billion deal to acquire a 49% stake in the UK North Sea assets of Canadian independent Talisman marks the Chinese national oil company's (NOC) first foray in the mature offshore region. The move raised some eyebrows, as it is far removed from Sinopec's recent focus on unconventional resources (EIF Sep.7' 11). But the acquisition has the benefits of further diversifying Sinopec's portfolio, adding producing assets to its books, and allowing Sinopec to partner with an established North Sea participant.