Talisman Sinopec signs up Transocean

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OIL and gas group Talisman Sinopec yesterday signed up contractor Transocean to supply a drilling rig for three years as part of its £1.6 billion Montrose Area Redevelopment (MAR) project.

The £290 million contract will involve more than one million man-hours of work. It was signed in Aberdeen yesterday.

MAR will extend the life of the existing fields by 13 years to 2030. It’s the first project of its kind to be implemented following the UK government’s announcement on brown field allowances 
last year, and supports more than 2,000 new British-based jobs.

Talisman Sinopec, which is 49 per cent Chinese owned, also signed up Aberdeen-based Subsea 7 for the MAR project recently, paying around £190m for pipeline work.