A wholly-owned subsidiary of Talisman Energy Inc. has entered into an agreement with Total Holdings Nederland B.V. to sell Talisman's entire non-operated interests in the Dutch sector of the North Sea for US$480 million, excluding working capital.

"We continue to focus Talisman's portfolio in line with our new strategy," said John A. Manzoni, President and Chief Executive Officer. "With the earlier sale of our Danish assets and now this transaction, the emphasis in the North Sea will be on positioning our UK assets as a firm production base and growing our Norwegian business."