Canadian and Chinese oil joint venture company Talisman Sinopec is set to invest about £4.3billion in the North Sea over the next three years.
The company, which owns 11 North Sea assets, would be launching tenders for well, materials and seismic services in March and April 2014, said interim head of supply chain Steve Duncalf.
“We are looking to consolidate a bit more and make it easier to contract with people in the supply chain,” said Mr Duncalf at the Oil & Gas UK pilot share fair this week.
“We have a huge amount of work underway, in terms of project work – the most we have ever had at any one time,” he added.
The company was working towards its goal of having a programme of two semi-subs and two platform drilling rips operating consistently from 2015, onwards.
Providing an update on the £1.5billion Montrose Area Development project, Mr Duncalf said the company hoped to deliver first oil by 2016.
In December last year Canadian oil firm Talisman Energy formed the joint venture with Chinese energy company Sinopec, selling a 49% share in its North Sea operations.
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