TORONTO (Standard&Poor's) July 23, 2012--Standard&Poor's Ratings Services today said that Calgary, Alta.-based oil and gas company Talisman Energy Inc.'s (BBB/Stable/A-2) announcement that it has entered an agreement with Sinopec International Petroleum and Production Corp. (a 100% subsidiary of China Petroleum&Chemical Corp. [A+/Stable/--; cnAAA/--]) to sell a 49% equity interest of its U.K. North Sea assets for US$1.5 billion will have no immediate effect on the ratings or outlook on Talisman. We believe that because the new joint venture will not either materially weaken nor strengthen the company's business risk profile, this transaction is neutral to the company's overall credit profile. Furthermore, in our view, Talisman's financial risk profile metrics, specifically its fully adjusted funds
