China Drying Network News On July 23, Sinopec, through its wholly-owned subsidiary International Petroleum Exploration and Development Corporation, formally signed a subscription agreement with Canadian Talisman Energy Corporation to acquire a 49% stake in the latter’s UK subsidiary for US$1.5 billion. The transaction still needs the approval of the relevant government. Talisman Energy is one of the largest independent oil companies in the world. Its British subsidiary has 51 oil and gas fields in the North Sea and is the operator of 35 of them. Surrounding the existing oilfields, it has an equity exploration area of ​​approximately 1800 square kilometers, with further rolling exploration and development potential.
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