Media Releases

TAQA appoints Donald Taylor Managing Director Europe 4 Oct 2017
ABU DHABI, United Arab Emirates – Abu Dhabi National Energy Company PJSC (TAQA) has appointed Donald Taylor Managing Director of TAQA Europe. As Managing Director, Mr Taylor will be responsible for TAQA’s upstream and midstream assets in the North Sea and the Netherlands.

 

ABU DHABI, United Arab Emirates – Abu Dhabi National Energy Company PJSC (TAQA) has appointed Donald Taylor Managing Director of TAQA Europe. As Managing Director, Mr Taylor will be responsible for TAQA’s upstream and midstream assets in the North Sea and the Netherlands.

“Donald is an accomplished leader with extensive experience from various roles at TAQA and other North Sea operators,” said Saeed Hamad Al Dhaheri, TAQA Acting Chief Operating Officer. “He has demonstrated strong leadership and has proven to be the right person to steer our European operations towards a safe and sustainable future.”

Donald Taylor commented: “It is a privilege to lead TAQA’s European business into the next phase of its journey. We have undergone a significant transformation programme over the past few years. Although this is now complete, the key challenge is to ensure the improvements made are sustained. By continuing in this way and performing at our best each and every day, I am confident that we will achieve a safe and successful future for TAQA’s Europe organisation.”

Donald Taylor has been Acting Managing Director since late 2016. He joined TAQA in 2009 and has held a range of operational and safety leadership roles, latterly as operations director. Previously, Mr Taylor held leadership positions at North Sea operators Maersk Oil, Kerr-McGee, BHP and Conoco. He is a Chartered Mechanical Engineer with a bachelor’s degree in civil engineering from the University of Glasgow.

 

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About TAQA Europe

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s UK operations focus on safely and efficiently maximising economic recovery and life extension across a diverse portfolio of oil and gas assets and activities in the UK North Sea. It’s portfolio consists of operated interests in the Harding, Morrone, Tern, Kestrel, Eider, North Cormorant, South Cormorant, Falcon and Pelican fields. It also has non-operated interests in the Maclure, Brae, East Brae, Braemar and Hudson fields. TAQA also operates the Brent System Pipeline and has an interest in the Sullom Voe Terminal, SAGE pipeline and onshore terminal and the Brae-Miller Linkline.

TAQA’s operations in the Netherlands focus on strategic energy infrastructure projects and the exploration and production of oil and gas, both onshore and offshore. TAQA operates Europe’s largest open-access gas storage facility - Gas Storage Bergermeer, Peak Gas Installation Alkmaar, the onshore Bergen Drying Facilities and the offshore P15/P18 oil and gas processing hub.

 

TAQA Europe media relations: 
Samantha Silvers, Corporate Communications Manager
samantha.silvers@taqaglobal.com

TAQA HQ media relations:  
Allan Virtanen, Head of Communications
allan.virtanen@taqaglobal.com

TAQA announces first oil from Cladhan field 29 Dec 2015

TAQA today announced first oil from the new Cladhan field development in the UK North Sea.

 

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ABERDEEN, UK – Abu Dhabi National Energy Company PJSC (TAQA), today announced first oil from the new Cladhan field development in the UK North Sea. The field is developed as a subsea tie-back to the TAQA-operated Tern Alpha platform.

Peter Jones, TAQA’s UK managing director, said: “Cladhan is the third field developed by TAQA and the largest to date. First oil therefore represents a significant milestone. Developing Cladhan as a tie-back to Tern underlines our commitment to invest in infrastructure and to maximise economic recovery in the North Sea.” 

The Cladhan field is located in the northern North Sea, approximately 100 kilometres north east of the Shetland Islands in a water depth of approximately 150 metres.

The field lies 17.5 kilometres southwest of the Tern platform and straddles UKCS blocks 210/29a and 210/30a. The development consists of two producer wells (P1 and P2) and one injection well (W1).   

TAQA is operator of Cladhan, with a 64.5% interest. Its co-venturers Sterling Resources (UK) Ltd and MOL Group hold a 2% and 33.5% interest respectively. 

In the UK, TAQA operates five platforms which produce from 13 fields spread across the Northern North Sea and the Central North Sea. TAQA is also the operator of the Brent Pipeline.  

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TAQA appoints Ryan Wong as acting CFO 10 Sep 2014
TAQA has appointed Ryan Wong to the position of acting Chief Financial Officer (CFO) effective 1 October.
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Abu Dhabi, United Arab Emirates – TAQA, the Abu Dhabi National Energy Company, has appointed Ryan Wong, currently Group Vice-President Treasury, to the position of acting Chief Financial Officer (CFO) effective 1 October.

Mr. Wong will replace Stephen Kersley, who held the role of CFO since May 2011 and has decided to leave the company effective 1 November 2014.

Ed LaFehr, Chief Operating Officer of TAQA, commented: “Steve led a significant upgrading of TAQA’s financial processes, systems, and treasury operations. We wish him well for the future and thank him for his service over the past years.”

Ryan Wong joined TAQA in 2008 and brings to the role 35 years of financial and treasury experience.

TAQA appoints Saeed Al Dhaheri to Executive Team 6 Sep 2014
TAQA has appointed Saeed Hamad Al Dhaheri to the position of Executive Vice President Human Resources and General Services.
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Abu Dhabi, United Arab Emirates - TAQA, the Abu Dhabi National Energy Company, has appointed Saeed Hamad Al Dhaheri to the position of Executive Vice President Human Resources and General Services.

Mr. Al Dhaheri has more than 12 years of experience from the human resource industry in Abu Dhabi. He joins TAQA from government-owned Abu Dhabi Media Company where he led the human resources, procurement and administration functions. Mr. Al Dhaheri has also served on the Board of Directors of United Printing & Publishing and previously held human resources leadership positions at Etihad Rail  and Abu Dhabi Health Services Company - SEHA.

In June 2014, TAQA initiated a significant restructuring and strategy development process with a focus on enhancing Emiratisation efforts.

TAQA restarts production at North Sea Harding platform 4 Mar 2014
TAQA can confirm that production has now been restarted at the TAQA-operated Harding platform in the UK North Sea.

TAQA can confirm that production has now been restarted at the TAQA-operated Harding platform, located 320 kilometres north-east of Aberdeen in the UK North Sea. The platform is being up-manned for routine operations.

Latest update on UK North Sea Harding platform incident 27 Feb 2014
TAQA can confirm that a team from the company has arrived on the Harding platform in the North Sea following the death of a TAQA employee on February 27, 2014.

TAQA can confirm that a team from the company, along with investigators from Police Scotland and the Health and Safety Executive, has arrived on the Harding platform following the death of a TAQA employee early this morning. (February 27, 2014)

TAQA will conduct its own inquiry and is co-operating fully with all external investigations. The company is also currently offering its full support to the family of our colleague and will continue to do so for as long as required.

The incident happened just after 2.15am today when our employee fell overboard during maintenance activity on the platform. He was recovered from the sea by a support vessel and flown by helicopter to hospital in Shetland.

The remaining 108 people who were on the platform are safe and accounted for. Production has been shut down on the platform and an operation is underway to downman 74 non-essential personnel from the installation. TAQA took the decision to downman out of consideration for the welfare of our people following this tragic incident.

The Harding platform  is owned and operated by TAQA and is located 320 kilometres north-east of Aberdeen.

Further updates will be issued as more information becomes available.

ENDS

Notes to editors:

Background information and fast facts can be found at www.taqaglobal.com

About TAQA

TAQA is the brand name for the Abu Dhabi National Energy Company PSJC. Our UK business was incorporated in 2006 and is based in Aberdeen. In the UK, TAQA is an exploration and production company working on the United Kingdom Continental Shelf (UKCS).
TAQA’s portfolio in the UK consists of our Brae assets, Beinn and Braemar fields, as well as the SAGE pipeline and onshore terminal, and the Brae-Miller Linkline. We have 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant and Pelican Fields. And we have a combined 26.73% interest in the Dana- operated Hudson field and a 24% interest in the Sullom Voe Terminal.
TAQA also operates the Brent Pipeline System on behalf of ourselves and our partners in the North Sea.
Approximately 400 employees and 800 contractors and subcontractors work for TAQA in the UKCS and onshore.

The Harding platform
The Harding platform is located 320 km north-east of Aberdeen. TAQA has a 70% equity interest and is operator. Maersk owns 30%. The Harding platform began production in 1996.

TAQA receives government approval for North Sea development 16 Dec 2013
TAQA has received approval from the UK government for development of its Morrone field in the Central North Sea.

Abu Dhabi, United Arab Emirates – TAQA, the international energy company from Abu Dhabi, has received approval from the UK government for development of its Morrone field (block 9/23b) in the Central North Sea.

The initial phase of development will consist of an extended reach well drilled from the TAQA-operated Harding platform which lies 5 km north of the Morrone field. Morrone is expected to initially produce over 3,000 barrels of oil equivalent per day with first oil expected in the 3rd quarter of 2014. 

Pete Jones, Managing Director of TAQA’s UK business, said: “Reaching this milestone so quickly is due to an intense effort by TAQA’s subsurface and wells teams, close collaboration with our partners, and a smooth transition of operatorship of the field from BP in June 2013.”

TAQA’s interest in Morrone is 70%. Maersk Oil North Sea UK Limited has a 30% interest.

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For further information:

TAQA Media Relations - Abu Dhabi
Allan Virtanen 
Head of Media
Tel +971 2 691 4894 
Mob +971 56 685 2717 
Allan.Virtanen@taqaglobal.com  

TAQA Media Relations - Aberdeen
Lucy Buglass
Corporate Communications Advisor
Tel: +44 1224 737645
lucy.buglass@taqaglobal.com 

About TAQA

TAQA means energy in Arabic. We are an international energy and water company listed in Abu Dhabi operating in 11 countries across four continents. 
We strive to run our company safely and sustainably, operating to the highest ethical standards. We are proud to align our strategy to Abu Dhabi’s Economic Vision 2030, a roadmap for a sustainable economy with a focus on knowledge-based industry. 
Our interests lie in conventional and alternative power generation, water desalination, oil and gas exploration and production, pipelines and gas storage. We operate in Canada, Ghana, India, Iraq, Morocco, the Netherlands, Oman, Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States.

TAQA’s UK portfolio consists of 70% operated interest in the Harding field, 70% in the Morrone field  and 37.03% non-operated interest in the Maclure field. In Brae, TAQA has a total interest of 45.7% in Block 16/7a, a total 50.1% interest in East Brae, and a total 65% interest in the Braemar field.
TAQA also has 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant, Falcon and Pelican Fields. It has a combined 26.73% interest in the Dana-operated Hudson field and a 24% interest in the Sullom Voe Terminal. It has an interest in the SAGE pipeline and onshore terminal, and the Brae-Miller Linkline. It TAQA also operates the Brent Pipeline System.
Over 500 employees and over 2500 contractors and subcontractors work for TAQA on the UKCS and onshore.

Work for us and see the world,” TAQA tells Emirati undergrads in the UK 16 Nov 2013
TAQA has held its largest recruitment event for Emiratis outside of the UAE.

Abu Dhabi, United Arab Emirates – TAQA, the international energy company from Abu Dhabi, has held its largest recruitment event for Emiratis outside of the UAE.

Working in conjunction with the UAE embassy in the United Kingdom, the company played host to 60 UAE nationals at a two-day event in Aberdeen to showcase potential careers within the TAQA group.

It is the second event held by TAQA for UAE nationals studying abroad. A forum held at the UAE embassy in Ottawa, Canada for Emirati students in North America has already led to an internship.

Ken Boyle, TAQA’s Group Vice President for Human Resources, who helped stage the event said: “These are Emiratisation events; opportunities for us to engage with young Emiratis and to encourage them to take an interest in our international business.”

Among the students who attended were undergraduates, Masters’ students and PhDs, all studying at UK universities. TAQA used the UAE embassy and social media to draw up their invitation list.

Also present were two current UAE graduate trainees, Mayed Al Rayssi and Muhanna Al Nuaimi, there to give the assembled guests first-hand accounts of what it is like to begin your career with TAQA.

The first event of the weekend was a UAE-themed reception with the room decorated after the Arab fashion, and a menu of exclusively Arab fare. The morning of Day Two was taken up with presentations on what TAQA was, and what it did, while the afternoon was given over to adventure activities.

The students were also introduced to the internships and training schemes available for Emiratis wishing to spend time gaining work experience outside the UAE. They were also given the opportunity to discuss informally what it was like to train with TAQA.

Mr Al Rayssi, one of TAQA’s current UAE graduate trainees was on hand to offer advice: “We each gave a three to five minute speech,” he said. “We explained why we had chosen TAQA as our career, and what they could expect if they made the same choice.”

Mr Al Nuaimi said: “I stressed what it was like to work within the organisation, and how the training you receive is designed to show you what can be achieved when you work closer together; how you can become stronger together.

“I think many were surprised to learn what TAQA has achieved in the short time it has been in existence. And most thought Mayed and I had been working at TAQA for years. They were amazed to see that we were already working overseas and how much we knew about the industry after just a year.”

Mr Al Rayssi added: “We explained how the mentoring system at TAQA works: how we are guided by senior figures within each division, who are always on hand to explain, and to ensure we reach a comprehensive understanding of how each stage of the business works.”

Both graduate trainees agreed the event had gone down well with the guests. “More than one came up to me, expressing how seriously they were considering energy as a career now,” said Mr Al Nuaimi. “No other industry had paid them the same attention, or appeared so eager to attract them into a career as TAQA.”

Nearly all the guests agreed the spread of career opportunities within TAQA were a draw, regardless of the academic disciplines they were pursuing, from commercial openings to engineering and research and development work.

“Also, they liked the special way TAQA treated them. And they were all keen to learn more about potential internships.”

Mr Boyle described the Aberdeen event as, “an unqualified success. The net result is that TAQA has made 60-odd new friends. There has been huge Twitter traffic among the Emirati students involved and their friends – all of it positive – and we have gained great market intelligence on what young Emiratis think about the energy industry as a career.”

Following the forum in Ottawa, one of the students who attended, Salha Al Kuwaiti, became the first UAE intern in TAQA’s North American operations.

Salha, a UAE national, who was born in Abu Dhabi and brought up in Al Ain, holds a Bachelor of Software Engineering from the United Arab Emirates’ University, and is currently studying for a Masters degree in Computer Science at Concordia University in Montreal. To take part in the TAQA internship, Salha moved to Calgary in May, 2013 to work with the TAQA IT team there.

She was involved in two projects: automation of the SharePoint processes, and upgrading the SharePoint system, in addition to other problem-solving tasks.

”This experience has helped me gain more knowledge, self-confidence and determination to work hard and seek excellence and creativity.” Salha said. “It has helped me gain technical knowledge, and I have proved that I am a fast learner, and now I know the exact details of this system.”

As well as contributing to her professional development, the experience has helped her personally too.

“It has given me more self-confidence,” she added. “I attended meetings, discussed matters and gave my view point. I have learnt how to act in a highly organised work environment. People there showed much interest and support. They were extremely friendly with me as I was their first Emirati intern.

“I was assigned many tasks. My supervisors were impressed by my performance, and the evaluation I was granted at the end exceeded expectations.”

From the Aberdeen forum, Bassem Al Naqbi, a UAE studying for a PhD in International Law at Lancaster University, said: “The event added to my knowledge about the energy sector in the UAE. I was honoured with what my country has achieved, especially in alternative energy field.”

Mr Boyle, explaining the strategy behind the student forums, said: “Emirati students abroad are our target. We are going out of our way to bring in Emiratis with foreign experience; get them in, show them TAQA. This is very unique. It allows us to get our message across. Where you really can tell them; this is what TAQA is all about … a young, agile company with a very focused people agenda; say to them, if you want a real opportunity in the world, you should consider coming and seeing TAQA because this is where the world hits the road.

“If I was a young Emirati, I would like to think a company like TAQA is a really exciting opportunity.”

As an example, he pointed to Mayed Al Rayssi, the Emirati graduate trainee who helped with the Aberdeen event. As part of his international experience, he is currently preparing to spend three months on TAQA’s Tern productio

Cormorant Alpha achieves full production capability 3 Sep 2013
Cormorant Alpha recommenced production on 30 June and full production capability was achieved on 24 August following completion of a re-instatement project.

Cormorant Alpha recommenced production on 30 June and full production capability was achieved on 24 August following completion of a re-instatement project.

New managing director formally joins TAQA’s UK business 1 Jul 2013
TAQA, the global energy company based in Abu Dhabi, today announced that Pete Jones has today formally joined TAQA to succeed Leo Koot as managing director of TAQA’s UK oil and gas business

July 1, 2013, Abu Dhabi, United Arab Emirates - TAQA, the global energy company based in Abu Dhabi, today announced that Pete Jones has today formally joined TAQA to succeed Leo Koot as managing director of TAQA’s UK oil and gas business.

Mr Jones joins TAQA from Marathon Oil Corp. where he held the position of Regional Vice president – Wyoming. During his career at Marathon, he also held various roles including Managing Director - UK, responsible for the company’s UK operations which included the Brae field and Devenick tieback. Mr Jones has a Master’s Degree in Operations Research (Eng) from the University of Birmingham and is a British national.

He comments: “TAQA has probably one of the best portfolios in the UK and there are great opportunities in exploration and development, the acquisition environment and asset development.”

Mr Koot has been appointed Managing Director of TAQA in Iraq and will be responsible for all of TAQA’s operations in Iraq.

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Notes to editors:

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: Power generation & Water desalination; Oil and Gas exploration & production; and Energy Solutions.

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

TAQA’s UK portfolio consists of a 70% interest in the Harding field, 70% in the Morrone field  and 37.03% interest in the Maclure field. In Brae, TAQA has a total interest of 45.7% in Block 16/7a, a total 50.1% interest in East Brae, and a total 65% interest in the Braemar field.

TAQA also has an interest in the SAGE pipeline and onshore terminal, and the Brae-Miller Linkline. It has 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant, Falcon and Pelican Fields. It has a combined 26.73% interest in the Dana-operated Hudson field and a 24% interest in the Sullom Voe Terminal. TAQA also operates the Brent Pipeline System.

TAQA completes acquisition of BP assets 1 Jun 2013
TAQA has today completed the acquisition of UK North Sea oil and gas assets from BP.

1 June 2013, Abu Dhabi, United Arab Emirates – TAQA, the global energy company based in Abu Dhabi, has today completed the acquisition of UK North Sea oil and gas assets from BP.

TAQA takes over as operator of the Harding field and production platform in the Central North Sea, complementing the company’s existing assets in the Northern North Sea. The acquisition is expected to add 20,000 barrels of oil equivalent per day (boed) of production.

Carl Sheldon, Chief Executive Officer at TAQA, said: "We are delighted to announce the completion of this acquisition which extends the average life of our UK reserves and opens up a bright future for our North Sea business. This investment is a great strategic fit for TAQA.”

The assets were acquired under the agreement signed in November 2012 with an economic effective date of 1 January 2012, for USD 1,058 million, including an allocation for tax allowances. A deposit of USD 632 million was paid at signature of the agreement. The remaining consideration has been adjusted for cash flow since the effective date.

As a result of the acquisition, TAQA now has interests in the Harding, Morrone and Maclure fields. The transaction has also increased TAQA’s interests in the Brae area, the SAGE gas pipeline and Forties-Brae and Forties-Braemar oil pipelines.

The acquisition of the Devenick field interests, forming part of the transaction, is expected to complete at a later date.

- ENDS -

Contact Information for Media:

TAQA UK Media Relations
Britta Hallbauer
Corporate Communications Manager
Mob: +44 (0)7795 312976

Abu Dhabi
Allan Virtanen
Head of Media
Tel +971 2 691 4894
Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

Notes to editors

TAQA’s interest in the newly acquired fields: 70% in the Harding field, 70% in the Morrone field and 37.03% interest in the Maclure field. In Brae, TAQA has a total interest of 45.7% in Block 16/7a, a total 50.1% interest in East Brae, and a total 65% interest in the Braemar field.

Evercore Partners acted as financial adviser to TAQA in relation to this transaction.

About Abu Dhabi National Energy Company PJSC (TAQA):

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).
TAQA’s business is made up of three operating divisions spread across the entire energy value chain: Power generation & Water desalination; Oil and Gas exploration & production; and Energy Solutions.
TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.
Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development.
In addition to the newly acquired assets, TAQA’s UK portfolio consists of the Brae Area assets, Beinn and Braemar fields, as well as the SAGE pipeline and onshore terminal, and the Brae-Miller Linkline. It has 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant, Falcon and Pelican Fields. It has a combined 26.73% interest in the Dana-operated Hudson field and a 24% interest in the Sullom Voe Terminal. TAQA also operates the Brent Pipeline System.

Cormorant Alpha update 6 May 2013
TAQA today issued an update regarding the situation at the Cormorant Alpha platform in the UK North Sea:

TAQA today issued an update regarding the situation at the Cormorant Alpha platform in the UK North Sea:

After two hydrocarbon releases within a leg of the Cormorant Alpha platform in January and March, TAQA has accelerated a long-term inspection, repair and maintenance programme that has been under way since 2011.

Production on the platform was initially expected to continue throughout the programme, but after the releases, which involved no leak of hydrocarbons to the external environment, TAQA has decided  to continue the shut-in of Cormorant Alpha’s production while the programme progresses. Thanks to this inspection programme being in progress prior to the releases, TAQA was able to respond immediately, addressing the issues quickly and effectively.

There is still substantial work to be performed in the platform legs.  This will take months to complete. TAQA will provide an update on the outlook for resuming production at Cormorant Alpha when this work has progressed further.

Leo Koot, Managing Director of TAQA’s UK oil and gas business, said: “We are committed to investing in our infrastructure to ensure that production continues and export hub facilities are maintained. Cormorant Alpha is a critical piece of infrastructure for the continued viability of the Northern North Sea and this planned programme of work will help extend its original design life and support the long term security of UK energy supply. There is potentially one billion barrels of oil behind Cormorant Alpha and, although our production may be affected over the next few months, this work is critical to ensure the long term future of the northern North Sea.”

As well as handling 10,000 barrels per day of production from the South Cormorant field, the Cormorant Alpha platform is the conduit for the Brent System Pipeline, which carries approximately 90,000 bpd of oil, or approximately 10 % of the UK’s oil production. The Brent System Pipeline is unconnected to the pipework involved in the inspection, repair and maintenance programme and continues to operate normally. However, although no closure of the Brent System Pipeline is planned as part of this inspection, repair and maintenance programme, it has been and could in future be subject to temporary closure on a precautionary basis should this be required during this programme of work. 

As part of TAQA’s ‘make it safe, make it work, make it grow’ strategy, the company has invested more than £300 million on maintenance and upgrades across four northern North Sea platforms since their acquisition in 2008. This investment has improved the quality of the infrastructure, helping to double production and secure hundreds of jobs in Aberdeen.

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Government approval for TAQA’s Cladhan field development plan 24 Apr 2013
TAQA today announced that the development plan for its Cladhan field has been approved by the UK government.

TAQA today announced that the development plan for its Cladhan field (Blocks 210/29a and 210/30a of the northern North Sea) has been approved by the UK government.

The initial phase of development will consist of two producer wells and one injection well.  Cladhan is expected to produce over 17,000 boe/d initially with first oil expected Q1 2015. The production will be tied back to TAQA’s Tern Alpha platform which lies 17.5km northeast of the Cladhan field.

Leo Koot, Managing Director of TAQA’s UK business, said: “The Cladhan development is the third field that TAQA has developed and the largest project to date. Developing Cladhan as a tie back to Tern supports TAQA's strategy to invest in our infrastructure as we recognise the crucial part it plays in allowing us to maximise recovery from the northern North Sea.”

TAQA currently has 40.1% in the Cladhan field but recently agreed to acquire further equity from Sterling Resources (UK) Ltd. (“Sterling”) in return for providing further funding arrangements to Sterling to take the project through the development phase. The agreement is structured so that equity is transferred to TAQA in a series of tranches with the result that if Sterling cannot secure other finance for the project before 30 June 2013, TAQA will acquire a further 12.6% equity in the Cladhan Field. In addition, 11.8% of Sterling’s remaining equity will be transferred to TAQA until such time as the costs which TAQA will carry on the 11.8% equity are repaid from production revenue. Assuming such repayment does occur, the resulting equities in the Cladhan field will be TAQA 52.7%, Sterling 13.8% and Wintershall 33.5%.

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TAQA starts process to restore Brent crude oil flows 7 Mar 2013
TAQA confirms that a hydrocarbon release was detected in one of the Cormorant Alpha platform legs in the northern UK North Sea.

Abu Dhabi, United Arab Emirates - Abu Dhabi National Energy Company PJSC (TAQA) has begun the process of restoring the flow of an estimated 80,000 barrels per day (bpd) of crude oil in the Brent pipeline system following a precautionary shutdown on Saturday 2 March.

The pipeline system, which is operated by TAQA and runs through the Cormorant Alpha platform, was halted after a small hydrocarbon release in one of the platform’s legs was detected. Investigations have found there is no connection between the Brent pipeline system and the pipeline involved in the release. The process of restarting Brent throughput follows a thorough technical evaluation that shows it is safe to do so without any increased risk to Cormorant Alpha.

The hydrocarbons released were contained within the platform leg and none entered the environment. The leak has now been contained with no further oil release.

Cormorant Alpha normally handles approximately 90,000 bpd of crude oil feeding the Brent pipeline system, including approximately 10,000 bpd in Cormorant Alpha production. Cormorant Alpha production remains closed while work on the platform leg continues.

There were 145 people on board Cormorant Alpha when the incident was discovered on Saturday. On Saturday, 71 non-core personnel left the platform.

Cormorant Alpha is operated by TAQA Bratani Ltd and is located 232 miles from Peterhead, Scotland and 94 miles from Lerwick in the Shetland Islands.

Contacts

Aberdeen
Sian Mutch
+44 1224 275564

Abu Dhabi
Allan Virtanen
+971 2 691 4850

TAQA makes Northern North Sea oil discovery 17 Feb 2013
TAQA has discovered oil in the new Darwin oil field in the Northern North Sea area near the Shetland Islands in Scotland.

Abu Dhabi, United Arab Emirates – Abu Dhabi National Energy Company PJSC (TAQA) has discovered oil in the new Darwin oil field in the Northern North Sea area near the Shetland Islands in Scotland.

Leo Koot, the managing director at TAQA's UK oil and gas business, said: "This discovery proves that the North Sea still has great potential and that it is possible to unlock opportunity and produce growth through the use of cutting-edge technology and focused investment. This is an exciting and challenging opportunity and we look forward to repeating our success in safe and fast field developments."

In February 2012, TAQA acquired a 50% interest in the prospective exploration acreage known as Darwin, located south of the former NW Hutton Field. Two oil columns were discovered during the Darwin drilling programme, which commenced November 2012. One well has been suspended for the purpose of future well testing.

The Darwin acreage is located next to the TAQA-operated Cormorant South, North Cormorant and Pelican fields in the Northern North Sea approximately 130 km northeast of the Shetland Islands. The reserves potential of the Darwin oil discoveries, in conjunction with NW Hutton Field re-development, is currently being re-evaluated. TAQA is currently studying optimal development options.  Further appraisal drilling (including well testing) is anticipated prior to selection of a development concept.

TAQA has recently expanded its North Sea exploration programme with agreements to participate in several drilling campaigns and development projects. TAQA was also awarded a number of strategic licenses in the 27th North Sea oil and gas licensing round.

Last month, TAQA started first oil production from the Cormorant East field development in the UK North Sea which is expected to contain 10 - 30 million barrels of oil in place.

In a move to further expand its position in the North Sea TAQA agreed to buy from BP oil and gas assets worth more than USD 1 billion. The assets are expected to increase production by approximately 21,000 barrels of oil equivalent and provide a second major development hub in the central North Sea opening up further investment opportunities.

TAQA is the largest investor from the United Arab Emirates in the UK, having invested more than USD 4 billion in four years.

TAQA's UK portfolio consists of the Brae Area assets, Beinn and Braemar fields, as well as the SAGE pipeline and onshore terminal, and the Brae-Miller Linkline. It has 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant, Falcon and Pelican Fields. It holds an interest in the Hudson field Sullom Voe Terminal. TAQA is also operator of the Brent Pipeline System.

- ENDS -

Contact Information for Media:

Aberdeen
Britta Hallbauer
Corporate Communications Manager
Tel +44 1224 275565
britta.hallbauer@taqaglobal.com

Abu Dhabi

Taryam Al Subaihi
Head of External Relations
Tel +971 2 691 4803
Mob + 97156 219 5195

Allan Virtanen
Head of Media
Tel +971 2 691 4894
Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA confirms initial flows in Brent pipeline system 17 Jan 2013
TAQA confirms that initial flows of crude oil have resumed in the Brent pipeline system following a precautionary shutdown on Monday.

Abu Dhabi, United Arab Emirates - Abu Dhabi National Energy Company PJSC (TAQA) confirms that initial flows of crude oil have resumed in the Brent pipeline system following a precautionary shutdown on Monday.

The pipeline system, which is operated by TAQA and runs through the Cormorant Alpha platform, was halted after hydrocarbons were detected inside one of the platform’s legs. The process of restarting the Brent pipeline system followed a thorough technical evaluation and safety assessment.

The Cormorant Alpha platform normally handles about 90,000 barrels per day (bpd) of crude oil feeding the Brent pipeline system, including approximately 10,000 bpd of Cormorant Alpha production. Crude oil flows in the Brent pipeline system are expected to rise to approximately 80,000 bpd as other platforms in the Brent system return to normal operations.

Cormorant Alpha production remains closed while evaluations and work on the platform leg continues. The hydrocarbons released are fully contained within the Cormorant Alpha platform leg, and there has been no leak to the external environment. Work so far has mitigated the release and plans are being assessed for the repair of the affected line, which is not connected to the Brent pipeline system.

There were 159 people on board Cormorant Alpha when the release was discovered on Monday. On Tuesday, 92 non-core personnel left the platform and three specialists came aboard to help resolve the incident. All these people are accounted for and safe.

Cormorant Alpha is operated by TAQA Bratani Ltd and is located 232 miles from Peterhead, Scotland and 94 miles from Lerwick in the Shetland Islands.

Contacts

Aberdeen
Britta Hallbauer
+44 1224 275 275
Lucy Buglass
+44 1224 737 645

Abu Dhabi
Allan Virtanen
+971 2 691 4850

TAQA expands North Sea position with acquisition of BP assets 28 Nov 2012
Abu Dhabi, United Arab Emirates – Abu Dhabi National Energy Company PJSC ("TAQA") has today agreed to buy from BP oil and gas assets in the UK North Sea worth more than $1 billion.

Abu Dhabi, United Arab Emirates – Abu Dhabi National Energy Company PJSC ("TAQA") has today agreed to buy from BP oil and gas assets in the UK North Sea worth more than $1 billion.

This investment secures thousands of jobs that TAQA supports in the North Sea, and reinforces the status of TAQA, a company based in Abu Dhabi, as the leading UAE investor in the UK. It follows a constructive dialogue between the oil and gas industry and the UK Treasury, that resulted in changes to the tax treatment of North Sea assets.

Hamad Al Hurr Al Suwaidi, Chairman of TAQA, Chairman of Abu Dhabi Department of Finance and Member of the Executive Council of Abu Dhabi Emirate said: “We are pleased to have this opportunity to continue investing in our UK business. This investment shows our commitment to the future of the North Sea. It is underpinned by the UK Government’s commitment to long term fiscal stability.”

Welcoming the announcement, Prime Minister David Cameron said: "I’m delighted that following my recent visit to Abu Dhabi to spearhead greater commercial ties, TAQA have decided to invest in their North Sea operations. This is a vote of confidence in the UK economy and once again, highlights the North Sea’s position as a global energy hub. We’re committed to making Britain the investment destination of choice and today’s announcement shows how recent changes to the North Sea tax regime are helping to create and sustain thousands of jobs in Scotland and across the rest of the UK, ensuring we thrive in the global race."

Carl Sheldon, Chief Executive Officer of TAQA, said: "This investment is a great strategic fit for TAQA, ensuring growth for our UK business and establishes TAQA as a leading operator in the UK North Sea."

The UK Chancellor of the Exchequer, George Osborne, said: “Oil and gas is one of the UK’s greatest industrial success stories, supporting a third of a million jobs. That is why we’ve introduced measures to give companies the certainty they need for continued investment in the North Sea, and to ensure we get the most out of existing fields and infrastructure in the UK Continental Shelf. I welcome TAQA’s announcement today, which shows that the action we’ve taken is making a real difference.”

The acquisition consists of interests in the Harding (70%), Maclure (37.03%), and Devenick (88.7%) fields in the Central North Sea. TAQA will also increase its non-operated interests in the Brae area and associated transport infrastructure including the SAGE system, Forties-Brae and Forties-Braemar pipelines.

On completion, the acquisition is expected to increase TAQA’s net production by approximately 21,000 barrels of oil equivalent per day (boe/d), and will add a second major development hub to TAQA’s UK North Sea business, which is currently centred around the Northern sector.

Leo Koot, Managing Director of TAQA’s UK operations, said: "This transaction will provide us with new exploration and development opportunities in the central sector of the UK North Sea. By leveraging the skills we have built in developing mature North Sea assets, we are confident we can safely generate significant value from these assets over many years to come.

"This acquisition opens up new investment opportunities for TAQA, such as infill drilling on Harding, the ability to unlock significant discovered gas resources together with other adjacent field owners, and the development of the Morrone field, for which a field development plan will be submitted in the very near future."

The  total  consideration for the transaction is $1,058 million, plus certain potential contingent payments. The base consideration will be allocated 50% to plant and machinery for tax purposes and has an effective date of 1 January 2012 (except in respect of Devenick). The transaction is being funded from existing operating cash flow and credit lines. The acquisition is subject the satisfaction of pre-emption rights as well as government and certain third party approvals. It is expected to complete in Q2 2013.

Evercore Partners acted as financial adviser to TAQA in relation to this transaction.

- ENDS -

Contact Information for Media:

Abu Dhabi
Thomas Ashby
GVP Corporate Communications
Tel +971 2 691 4802

Allan Virtanen
Head of Media
Tel +971 2 691 4894
Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

Notes to editors

About the fields

The Harding field, operated by BP, lies within Block 9/23b, 320 km north east of Aberdeen. Harding is a jack-up production unit and, under the agreement, certain BP offshore staff on Harding will transfer to TAQA following completion of the acquisition and transfer of operatorship, expected for mid-2013. The Morrone field, drilled from Harding, lies 5 km south of the installation.

The Maclure Field is located in Block 9/19, 11 km north east of Harding. Maclure is a BP-operated subsea tie-back to the Maersk operated Gryphon floating production, storage and offloading unit.

Devenick is a gas condensate field located in Blocks 9/24b and 9/29a. The field came on stream in September 2012 and is a single well subsea tie-back to the Marathon-operated East Brae platform.  TAQA will acquire BP’s 88.7% operated interest in the unitised Devenick field area but has entered into an agreement to share net cash flows to provide BP with exposure to the future performance of this field.

The Brae area is divided into three licenses: Block 16/7a; East Brae, and Braemar. TAQA currently holds 18%, 16.89% and 13% respectively in these licenses. Following the acquisition of BP’s share, this increases to 45.7%, 50.1%, and 65% respectively.

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).
TAQA is the largest investor from the United Arab Emirates in the UK, having invested more than USD 3 billion in four years, including USD 1.2 billion in taxes to the UK Government.
TAQA’s UK portfolio consists of the Brae Area assets, Beinn and Braemar fields, as well as the SAGE pipeline and onshore terminal, and the Brae-Miller Linkline. It has 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant, Falcon and Pelican Fields. It has a combined 26.73% interest in the Dana-operated Hudson field and a 24% interest in the Sullom Voe Terminal. TAQA also operates the Brent Pipeline System.
Worldwide, TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.
TAQA is the largest independent power producer in the MENA region  and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.
TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation with operations in Canada, UK, the Netherlands, USA and Iraq
TAQA also has an Energy Solutions unit dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation.

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA optimistic about future investment in the UK oil and gas sector 6 Nov 2012
His Excellency Hamad Al-Hurr Al-Suwaidi, Chairman of the Board of Directors of Abu Dhabi National Energy Company PJSC (TAQA) expressed optimism about the future of the UK''s North Sea oil and gas industry, where the company is a major investor.

November 6, 2012, Abu Dhabi, United Arab Emirates – His Excellency Hamad Al-Hurr Al-Suwaidi, Chairman of the Board of Directors of Abu Dhabi National Energy Company PJSC (TAQA) expressed optimism about the future of the UK's North Sea oil and gas industry, where the company is a major investor.

He made the comments after a meeting with His Excellency David Cameron, Prime Minister of the United Kingdom of Great Britain and Northern Ireland. Carl Sheldon, TAQA’s Chief Executive Officer, was also present at the meeting today in Abu Dhabi.

TAQA is one of the fastest-growing exploration and production companies working in the UK North Sea. TAQA has invested over USD 4 billion in the business since 2007, doubling output from five offshore oilfields, and paid almost USD 1.2 billion in UK tax.

His Excellency Hamad Al-Hurr Al-Suwaidi said: "TAQA is already the largest UAE investor in the UK. We are optimistic about the future of Britain's North Sea oil and gas industry as long as the right incentives for future investment exist.”

Carl Sheldon, TAQA’s Chief Executive Officer said: “We are actively looking at further investments in the North Sea and we look forward to continuing to strengthen our dialogue with the UK Government to ensure the market structure remains open to UAE investment.”

TAQA’s targeted investments and technical expertise have extended the life of its mature North Sea assets, raising production from 20,000 boe/d to 45,000 boe/d and safeguarding hundreds of jobs.

TAQA is continuing to invest, increasing its stake in the Cladhan development in April 2012 and assuming operatorship in October this year. TAQA is also operator of the Brent Pipeline System.

-ENDS-

Contact Information for Media:

Abu Dhabi
Thomas Ashby
GVP Corporate Communications
Tel +971 2 691 4802

Allan Virtanen
Head of Media
Tel +971 2 691 4894
Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation.

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development.

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL 

Discovery of a new oil accumulation by TAQA Contender Well 22 Oct 2012
TAQA Bratani Limited, the wholly owned subsidiary of the Abu Dhabi National Energy Company PJSC (TAQA), today announced the discovery of a new oil accumulation by well 211/21-N94 known as the Contender prospect, in the UK Northern North Sea Block 211/22a [Contender Area].

22 October 2012 - TAQA Bratani Limited, the wholly owned subsidiary of the Abu Dhabi National Energy Company PJSC (TAQA), today announced the discovery of a new oil accumulation by well 211/21-N94 known as the Contender prospect, in the UK Northern North Sea Block 211/22a [Contender Area].

The well was drilled from TAQA’s North Cormorant platform and the field is expected to be developed under the new field name ‘Cormorant East’. Production will be processed through the North Cormorant platform. The target for the well was located in the Jurassic Brent sandstones to the North East of the Cormorant North field and encountered an oil accumulation that is expected to correspond to 10-30 million barrels of oil in place.

Leo Koot, managing director at TAQA Bratani Limited, comments: “This project underpins our commitment to realise the full potential from our acreage. The exploration of near-field potential close to operated fields has benefitted from good co-operation between TAQA and DECC and we look forward to working with our partners to further explore the reservoir.”

TAQA earned a 60% interest and operatorship in the Contender Block by committing to pay the drilling cost of the well as a farm in obligation to the  211/22a joint venture.  The participating interests in Block 211/22a Contender Area are:

60% TAQA Bratani Limited

20% Dana Petroleum (E&P) Limited

8.4 Antrim Resources (N.I.) Limited

7.6% First Oil Expro Limited

4% Bridge Energy UK Limited

-Ends-

TAQA reaches a conditional agreement to acquire North Sea assets from Premier 15 Nov 2011
TAQA Bratani Limited (“TAQA Bratani”), the UK subsidiary of Abu Dhabi National Energy Company PJSC, has agreed to purchase from Premier Oil plc

Aberdeen, U.K- TAQA Bratani Limited (“TAQA Bratani”), the UK subsidiary of Abu Dhabi National Energy Company PJSC, has agreed to purchase from Premier Oil plc (“Premier”) certain assets that Premier will acquire following completion of its acquisition of Encore Oil plc. Under the agreement, TAQA will acquire a 16.6% per cent working interest in the Sterling-operated Cladhan area that is located in Blocks 210/29a and 210/30a in the Northern North Sea 17.5 km southwest of the TAQA operated Tern platform, for a consideration of $54.8 million including an allocation for tax allowances. TAQA has also agreed to farm-in to Blocks 28/5, 29/1d and 28/10a located in the Central North Sea.

Leo Koot, TAQA Bratani's managing director, said: “This agreement reinforces TAQA’s commitment to the North Sea. Cladhan is located adjacent to our existing operations in the Northern North Sea and it is a significant development in the area. The farm-in which includes access to the Coaster prospect, speaks to a further expectation of TAQA's strategy. We are eager to expand our exploration portfolio to include high quality opportunities outside our existing core area. We anticipate drilling the Coaster prospect with Premier next year.”

- ENDS -

Contact Information for Media:
Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation.

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development.

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA Strengthens North Sea Footprint 15 Sep 2010
TAQA Bratani has signed a Sale and Purchase Agreement (SPA) relating to TOTAL’s entire equity stake

Abu Dhabi, UAE – The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange (ADX: TAQA), today announced its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani) has signed a Sale and Purchase Agreement (SPA) relating to TOTAL’s entire equity stake of 81% in production licences for two blocks (P.226 Block 210/15a and P.1021 Block 210/20d) in the Otter Field Development Area (Otter).

Otter lies adjacent to TAQA Bratani’s existing North Sea interests, purchased in 2008, and is a sub-sea tieback to the TAQA Bratani operated Eider Platform. Average daily production year to date from the Otter Field is approximately 8,000 barrels of oil per day.

H.E. Abdulla Saif Al-Nuaimi, Chief Executive Officer and Managing Director of TAQA, said: “This transaction again underscores our long-term commitment to the North Sea. Since entering the North Sea, TAQA has gained first hand operational expertise of operating mature fields in the area and we are confident of the opportunity to optimise the asset efficiently. We have a world class team in place and, with the addition of this adjacent property, we have a clear opportunity to add to TAQA’s overall oil and gas production levels efficiently.”

Leo Koot, Managing Director of TAQA Bratani, said: “Our investment in the North Sea demonstrates the potential we see to extend the productive life and commercial viability of mature oil and gas fields. This transaction is an excellent fit with our strategic objectives and again presents us with the opportunity to grow production and further develop the blocks.”

The sale is subject to regulatory approval and third party consents.

- ENDS -

CONTACT TAQA:

TAQA Media Relations

Allan Virtanen
Group Corporate Communications Advisor
+ 31 64 61 47 448
allan.virtanen@taqaglobal.com

TAQA Investor Relations

Tanis Thacker
Head of Investor Relations
+971 2 691 4933
tanis.thacker@taqaglobal.com

Mohammed Mubaideen
Investor Relations Manager
+971 2 691 4964
mohammed.mubaideen@taqaglobal.com

NOTES TO EDITORS

About TAQA

TAQA is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange.

Our activities include oil and gas, power generation and water desalination across five continents. With operations in the UK, the Netherlands and North America, our oil and gas business includes exploration and production, storage and pipelines. We produce almost 138,000 barrels of oil equivalent per day in the North Sea and North America, as well as operating and developing extensive gas storage facilities in the Netherlands.

Our power plants are located in the United Arab Emirates, Morocco, Saudi Arabia, Ghana, India, the Caribbean and the United States. TAQA is the majority owner in the facilities that provide 98% of the water and electricity requirements in the Emirate of Abu Dhabi.

Established in 2005, our entrepreneurial culture has laid the foundations for long-term sustainable growth building on our commitment to people, safety and the environment.

About TAQA Bratani

TAQA Bratani Limited - wholly-owned by the Abu Dhabi National Energy Company PSJC (TAQA) - was incorporated in 2006 to oversee TAQA’s investments in the UK. Based in Aberdeen, TAQA Bratani is an exploration and production company working on the United Kingdom Continental Shelf (UKCS).

Our strategy is to become a leading exploration and production company in the UKCS. We are committed to building a successful, long-term future for our growing North Sea portfolio.

As at 31 December 2009, TAQA Bratani had proven and probable reserves of approximately 111 million barrels of oil equivalent and an average production of 41 thousand barrels of oil equivalent per day.

TAQA Bratani’s portfolio consists of our Brae assets, Beinn and Braemar fields, as well as the SAGE pipeline and onshore terminal, and the Brae-Miller Linkline. We have 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant and Pelican Fields. And we have a combined 26.73% interest in the Dana- operated Hudson field and a 24% interest in the Sullom Voe Terminal.

TAQA Bratani also operates the Brent Pipeline System on behalf of ourselves and our partners in the North Sea.

Approximately 400 employees and 800 contractors and subcontractors work for TAQA Bratani in the UKCS and onshore.

About Otter

The Otter Field was discovered in 1977 and came on to production in 2002. The field lies 150km north east of Shetland; in water depth of 182m.The field is a sub-sea tieback to the TAQA Bratani operated Eider Platform.

The field produces approximately 8,000 barrels of oil per day.

Oil is exported to the Sullom Voe Oil Terminal in Shetland via the TAQA Bratani-operated Brent system.

TAQA Bratani announces first new North Sea oil well on stream 27 Oct 2009
ABU DHABI, ABERDEEN – TAQA Bratani, (the UK arm of the Abu Dhabi National Energy Company PJSC), today announced production from its first new North Sea oil well. The well was drilled from the TAQA Bratani operated North Cormorant platform and was completed safely, on time and within budget.

ABU DHABI, ABERDEEN – TAQA Bratani, (the UK arm of the Abu Dhabi National Energy Company PJSC), today announced production from its first new North Sea oil well. The well was drilled from the TAQA Bratani operated North Cormorant platform and was completed safely, on time and within budget.

This latest producing well is a side track from the existing CN30 well in the Brent reservoir of the Cormorant field and lies in around 530 feet of water. The well is expected to produce around 10,000 barrels of oil equivalent a day.

Leo Koot, TAQA Bratani Managing Director, said:

“This is another milestone for TAQA Bratani. In the nine short months since we purchased four operated platforms we have achieved a tremendous amount, including reactivating the dormant North Cormorant platform drilling rig to full working order and successfully drilling this significant producing well.

“This is a testament to the hard work of our people and our commitment to building a material business in the North Sea, driving development, creating employment and extending the field life of our producing assets.”

The new production well is part of a programme of activity TAQA Bratani has planned for 2009/2010, which includes further platform in-fill drilling and mobile drilling for sub-sea development wells. Seismic has also been acquired on all TAQA Bratani northern North Sea acreage and is being processed to identify further development targets.

Lord Hunt, Energy Minister, said: “This is very good news for the North Sea and the UK economy. The Government is actively encouraging increased activity in the North Sea and it is heartening to see TAQA delivering on its promise and investing in its recently acquired assets. This is the kind of activity which will protect jobs and help secure the long term future of the basin.”

- ENDS -

Contact Information for Media:
Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

Abu Dhabi National Energy Company PJSC (TAQA) completes purchase of North Sea acreage from Shell and ESSO 3 Sep 2009
ABU DHABI, UAE, and ABERDEEN, UK, [Thursday September 3rd] – The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange (ADX: TAQA), announced today that its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani), has completed an acquisition of four exploration blocks in the Northern North Sea from Shell U.K. Limited and Esso Exploration and Production (UK) Limited (“the Vendors”). The sale completed for an undisclosed consideration.

ABU DHABI, UAE, and ABERDEEN, UK– The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange (ADX: TAQA), announced today that its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani), has completed an acquisition of four exploration blocks in the Northern North Sea from Shell U.K. Limited and Esso Exploration and Production (UK) Limited (“the Vendors”).  The sale completed for an undisclosed consideration.

This exploration acreage comprises:

P.296: Block 210/25a Rest of Block; Block 211/21a3 Rest of Block; Block 211/16c All

and

P.945: Block 210/20f All

and lies close to interests acquired in 2008 by TAQA Bratani, which includes four oil producing platforms - Cormorant Alpha, North Cormorant, Tern and Eider.

This transaction has received regulatory approval and consent from third parties.

Comment:

Leo Koot, Managing Director TAQA Bratani, said: “This deal further underlines TAQA’s commitment to developing the remaining reserves in the North Sea and is an ideal fit with our existing equity. These blocks lie adjacent to the Tern and Kestrel fields purchased by TAQA in the Northern North Sea last year and as such represent a clear opportunity to enhance our production while utilising existing infrastructure. This will not only maximise indigenous production for the UK but will also ensure our environmental impact is kept to a minimum.

TAQA’s continued investments in the North Sea over the past year reflect our view that there is significant potential to develop our upstream operations and further establish TAQA as a leading North Sea E&P operator.”

- ENDS -

Contact Information for Media:
Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA takes over as operator of the north sea brent system 4 Aug 2009
Taqa takes over as operator of the nothr sea brent system.
ABERDEEN – TAQA Bratani Limited, the UK arm of the Abu Dhabi National Energy Company PJSC (TAQA), announces today it is the new operator...

ABERDEEN – TAQA Bratani Limited, the UK arm of the Abu Dhabi National Energy Company PJSC (TAQA), announces today it is the new operator of the North Sea Brent System pipeline and facilities. TAQA takes over from Shell UK Exploration and Production, which held the position since mid 1970s.

Comment

Leo Koot, TAQA Bratani Managing Director, said: “This is an excellent fit with TAQA’s growing North Sea portfolio and underlines our commitment to being a major player among the energy producers for the UK. This is the latest step in our North Sea activity program which this year already has seen TAQA increase production from our operated assets, initiate drilling and near-field exploration.

“Operating the Brent System is a serious undertaking. TAQA has recruited experienced staff and installed first class IT and systems infrastructure to enable us to advise and liaise with our Brent System Partners.”

The Brent System is a partnership between companies who each own a share in the System. It consists of a proportion of the processing systems and structure on the TAQA-owned/operated Cormorant Alpha platform as well as the 150km pipeline connecting Cormorant Alpha to the BP operated Sullom Voe Oil Terminal in the Shetland Islands. TAQA owns a 24% share in the Terminal.

The Brent System is responsible for transporting around 100,000 bbls/d of oil from some 20 North Sea fields, accounting for almost 60% of the Sullom Voe Terminal input and around 8% of UK offshore oil production. 

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

 

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA acquires 15% interest in North Sea Assets and is appointed platform operator 4 Aug 2009
TAQA acquires 15% interest in North Sea Assets and is appointed platform operator
Abu Dhabi / The Hague – The Abu Dhabi National Energy Company PJSC (TAQA) today announced that it’s wholly owned subsidiary, TAQA Energy B.V. (TAQA Energy), has acquired a 15%

Abu Dhabi / The Hague – The Abu Dhabi National Energy Company PJSC (TAQA) today announced that it’s wholly owned subsidiary, TAQA Energy B.V. (TAQA Energy), has acquired a 15% interest in North Sea assets from the L11b Group, comprising Chevron Exploration and Production Netherlands B.V, DSM Energie B.V. and EBN for an undisclosed amount. The deal is part of a transaction between the L11b Group and the L8-D Field Group, comprising TAQA Energy, Cirrus Energy Nederland B.V., DSM Energie B.V., Energy06 Investments B.V., EWE AG and EBN.

The acquisition consists of a 15% interest in the L8-D Unit, L11b-A production platform which services the L8-D gas field, and a pipeline connection to the Noordgastransport (NGT) pipeline. The remaining 85% interest was acquired by the other members of the L8-D Field Group.

Following the acquisition, the L8-D Field Group has appointed TAQA Energy as operator to the L11b-A production platform with effect from 1 August 2009. Cirrus Energy Nederland B.V. is the L11b licence operator. First production is expected to begin before the end of the year.

Paul van Gelder, TAQA Europe Managing Director, said: “With its increased presence in the region, TAQA has consistently demonstrated its reliability as a North Sea operator. Today’s appointment is a clear recognition of this. The arrangement leverages TAQA’s existing offshore operating capabilities and our infrastructure in the Netherlands; benefiting all parties by enabling the earliest possible start of production. Our focus now is to make certain that the transition is swift to ensure consistency in the development of the gas field.”

On 29 July 2009, TAQA Energy announced it is acquiring DSM Energie Holding B.V. (DSM Energy). The intended acquisition is expected to close in Q3 2009, subject to regulatory approvals and notifications. DSM Energy is one of TAQA’s partners in the L8-D Group and its share will be transferred to TAQA Energy upon completion.

The L11b licence area and related assets are located approximately 50 km North of Den Helder, on the Dutch Continental Shelf.

- ENDS -

Partners in the L8D Group:

TAQA Energy B.V.

15.000%

Cirrus Energy Nederland B.V.

25.479%

DSM Energie B.V.

2.880%

EBN

41.900%

Energy06 Investments B.V.

1.341%

EWE AG

13.400%

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

 

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA Expands North Sea Upstream and Midstream Positions with Purchase of DSM Energy 29 Jul 2009
TAQA Expands North Sea Upstream and Midstream Positions with Purchase of DSM Energy

Abu Dhabi / The Hague – The Abu Dhabi National Energy Company PJSC (TAQA) today announced that its wholly owned subsidiary, TAQA Energy B.V. (TAQA Energy), has reached an agreement with Netherlands based Life Sciences and Materials Sciences company Royal DSM N.V., to purchase 100% of the share capital of its wholly owned subsidiary DSM Energie Holding B.V. (DSM Energy).

Abu Dhabi / The Hague – The Abu Dhabi National Energy Company PJSC (TAQA) today announced that its wholly owned subsidiary, TAQA Energy B.V. (TAQA Energy), has reached an agreement with Netherlands based Life Sciences and Materials Sciences company Royal DSM N.V., to purchase 100% of the share capital of its wholly owned subsidiary DSM Energie Holding B.V. (DSM Energy). The intended acquisition is expected to close in Q3 2009, subject to regulatory approvals and notifications.

Under the terms of the transaction, TAQA Energy will acquire non-operated interests in the pipeline company Noordgastransport B.V. (NGT), three other pipelines and 20 producing oil and gas fields in the Dutch North Sea. Further, the assets will provide TAQA Energy with an additional daily production of approximately 5,000 barrels of oil equivalent (boe) (2008 average) of which 85% is natural gas. The enterprise value of the transaction is EUR 285 million (USD 404 million). Most of the value is assigned to interests in the midstream assets.

Commenting on the announcement, Paul van Gelder, TAQA Energy Managing Director, stated: "Building on our European operations forms a key pillar of TAQA's strategy to create a diversified, global energy company. The transaction we have announced today will increase our production and enhance our footprint in the North Sea, while generating low risk, stable cash flows. In addition, the interest in the NGT pipeline compliments our existing portfolio with Bergermeer Gas Storage in development and will help establish TAQA as a key pan-European midstream player."

DSM Energy participates as non-operator in the exploration and production of oil and gas on the Dutch Continental Shelf with stakes of up to 25%. The company is also involved in the transportation of oil and gas through its ownership of pipelines.

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA accelerates North Sea production with new rig contract 2 Jan 2009
TAQA Bratani Limited (TAQA), (the UK arm of the Abu Dhabi National Energy Company PJSC), today announce they have secured the Stena Spey drilling rig on a seven month contract with Stena Spey Drilling Limited, based in Aberdeen.

Investment continues with MOBILE DRILLING CAMPAIGN

ABERDEEN – TAQA Bratani Limited (TAQA), (the UK arm of the Abu Dhabi National Energy Company PJSC), today announce they have secured the Stena Spey drilling rig on a seven month contract with Stena Spey Drilling Limited, based in Aberdeen.

The semi-submersible rig will drill up to 4 wells at a distance of around 175 km from the Shetland Islands, in the northern North Sea, in water depth of approximately 161 metres. The first will be an exploration well north of the Tern field in licence blocks acquired by TAQA in 2009. Further drilling and restoration of well integrity will take place in the Pelican sub-sea field, adjacent to the Cormorant Alpha platform. First oil production is expected before the end of 2010.

Managing Director Leo Koot said: “TAQA delivers on our promises. As new operators in the North Sea in 2009 TAQA was determined to build our assets and increase hydrocarbon recovery. This contract steps up our investment in developing indigenous North Sea resources for the UK and follows the November 2009 announcement of our first new producing well on the North Cormorant field

“TAQA intends to spend around three quarters of a Billion dollars in the UKCS throughout 2010. We are ideally placed to generate success in the North Sea – we have the energy, the expertise and the financial strength from a diverse global portfolio to ensure we can fund and manage long term projects even in times of economic unease.”

Sir Robert Smith, MP for Aberdeen West and Kincardine and a member of the Energy and Climate Change Committee, said: “This is very welcome news and a boost to the North Sea at what is still a difficult time. Drilling activity is vital to ensuring future job prospects as well as energy security. Without further discoveries and well development the UK would lose out on the full potential the North Sea has to offer. TAQA’s commitment will help deliver that potential.”

The Stena Spey will be on site for TAQA by mid March this year and drilling will commence immediately. Any development will be through a sub-sea tieback to existing TAQA infrastructure.

TAQA’s planned programme of activity for 2010 includes platform drilling campaigns on the North Cormorant and Tern installations in parallel with the mobile drilling campaign.

- ENDS -

Contact Information for Media:
Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA completes acquisition of north sea assets from Shell and ESSO 2 Dec 2008
ABU DHABI, UAE, and ABERDEEN, UK – The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange, announced today that its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani), has completed its $631 million acquisition of seven oil fields from Shell U.K. Limited and Esso Exploration and Production (UK) Limited.

ABU DHABI, UAE, and ABERDEEN, UK – The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange, announced today that its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani), has completed its $631 million acquisition of seven oil fields from Shell U.K. Limited and Esso Exploration and Production (UK) Limited.

The sale includes 100% interest and operatorship of the Tern, Kestrel, Eider, Cormorant North, South Cormorant and Pelican Fields, and a combined 26.73% interest in the Dana operated Hudson field together with a 16% interest in the Brent System and a 24% interest in the Sullom Voe Terminal.

TAQA Bratani’s development program consists of a capital expenditure commitment of £500 million to be made over the next three years.  In addition, TAQA Bratani will assume responsibility for the future decommissioning liabilities relating to these fields.

Commenting on the acquisition, Peter Barker-Homek, TAQA’s chief executive officer, said:

“The completion of this transaction is another important milestone for our company.  TAQA is now an important producer in the UK North Sea and will play a significant role in its future; driving development, creating employment and stimulating prosperity in the area. 

“The financial commitment we are making today will extend the productive life of these fields and, when combined with our existing UK and Dutch North Sea base, brings us one step closer to our strategy of building a diverse global portfolio of energy businesses across the value chain.

“These assets are undoubtedly a great addition to our existing operations and provide TAQA with scale. However, the value of the people we now have within our group as a result should not be underestimated.  More than three decades of the North Sea oil and gas industry has created a concentrated workforce with world class skills and a depth of experience which we intend to draw from as we seek to increase our European asset base and workforce.”

TAQA has engaged Wood Group Engineering (North Sea) Ltd, a subsidiary of John Wood Group PLC (“Wood Group”), for the provision of operating and maintenance activities and to act as Duty Holder for TAQA’s offshore assets in the Northern North Sea.  TAQA plans to assume the role of Duty Holder for these assets within 9 to 18 months, with Wood Group continuing to be TAQA’s operating and maintenance contractor.

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA snaps up new home in Aberdeen 2 Sep 2008
The Abu Dhabi National Energy Company (TAQA) has cemented its long-term commitment to Aberdeen by securing a 10-year lease on a new high-profile office at Arnhall Business Park, Westhill.

Anu Dhabi, United Arab Emirates - The Abu Dhabi National Energy Company (TAQA) has cemented its long-term commitment to Aberdeen by securing a 10-year lease on a new high-profile office at Arnhall Business Park, Westhill.

The move comes after TAQA announced it had entered into a Sale and Purchase Agreement with Shell U.K. Limited and Esso Exploration and Production (UK) Limited to purchase the equity pertaining to operating licenses for six offshore fields and two non-operated subsea tie-backs situated in the Northern North Sea.

TAQA has signed the long-term lease for Pavilion One at Arnhall with Knight Property Group. The 42,000 square foot building spans four floors of high-specification office accommodation.

Having established a presence in Aberdeen in 2007, the move to Westhill provides the accommodation necessary to house the UK office of this rapidly growing global energy company.

Worldwide, TAQA has investments and operations totaling more than £12 billion across the energy spectrum (power generation, water desalination, upstream oil and gas, pipelines, and gas storage).

Leo Koot, Managing Director of TAQA Bratani said: “We look forward to moving into our new UK office at Arnhall Business Park. It is the perfect location for us as we expand our operations in the North Sea. It is important that we can provide our growing team with modern, spacious accommodation and this is precisely what we achieve through Arnhall.”

James Barrack, Chairman and Managing Director of Knight Property Group, said: “We are pleased to welcome TAQA Bratani to Arnhall Business Park. TAQA brings a wealth of expertise and job opportunities to the city and their occupancy at Arnhall showcases the high-level business benefits offered by this attractive site. Business is thriving in Aberdeen’s Westhill area and we will be announcing further deals for Arnhall very soon.”

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA agrees to purchase North Sea assets from Shell U.K. LT 7 Jul 2008
The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange, announced today that its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani), has signed a Sale and Purchase Agreement with Shell U.K. Limited and Esso Exploration and Production (UK) Limited.

ABU DHABI, UAE, and ABERDEEN, UK - The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange (ADX: TAQA), announced today that its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani), has signed a Sale and Purchase Agreement with Shell U.K. Limited and Esso Exploration and Production (UK) Limited (‘the Vendors’) to purchase the equity pertaining to operating licenses for six offshore fields and two non-operated subsea tie-backs situated in the Northern North Sea .

The sale includes all equity, associated infrastructure and production licenses relating to the Vendor’s interests in the Tern, Eider, Cormorant North, South Cormorant, Kestrel and Pelican fields and related sub-sea satellite fields. The fields’ average daily production in the region of 40,000 barrels of oil equivalent (boe) represents a significant increase to TAQA’s existing European footprint.

As at 31 March 2008, TAQA’s existing combined European upstream operations had proven and probable reserves of approximately 38 mmboe and reached average production of 23 mboe/d.

Conditional on the closing of the transaction, TAQA has engaged John Wood Group PLC (Wood Group), a leading international energy services company, as operating and maintenance contractor and Duty Holder. As Duty Holder, Wood Group will manage offshore production operations, which includes safety, health and environmental regulatory compliance, allowing TAQA to concentrate on its core responsibilities as license operator and on building its presence and capability in the UK.

The transaction remains subject to regulatory approvals and third party consents. Closing of the transaction is expected to occur within the fourth quarter of 2008.

Commenting on the agreement, Peter Barker-Homek, TAQA’s chief executive officer, said:

“Today’s announcement brings us one step closer to our stated strategy of building a global energy company, with an equal distribution of assets in North America, Europe and the Middle East.

“We believe that the North Sea offers significant potential for companies like TAQA and we will be making a significant investment over the coming years to extend the productive life and commercial viability of these assets. These fields are an excellent fit with our operational objectives and potentially can be significantly improved by our own expertise and that of our partners, Wood Group, who are widely recognized as a global market leader in the enhancement of oil and gas production in mature fields. This is further evidence of our long-term commitment to Europe and will build on our asset optimization successes in The Netherlands and UK to-date.

“Furthermore, through this acquisition, TAQA will benefit from the tremendous expertise of the team that has been operating these assets who will become new employees of TAQA.”

“We see ourselves as part of the next generation of North Sea EP firms and are looking forward to providing dynamic careers to individuals interested in the energy sector. TAQA, as a meritocracy, aims to assist every employee in achieving their career aspirations.”

“We pride ourselves on having best-in-class health, safety, security and environmental standards.”

Goldman Sachs International acted as financial advisor and Ernst Young as tax advisor to TAQA in respect of the transaction. The legal advisor to TAQA Bratani is CMS Cameron McKenna LLP."

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

Abu Dhabi National Energy Company PJSC (TAQA) Confirms Exclusive Negotiations With Shell U.K. Limited and ESSO Exploration On Northern North Sea Assets 14 Mar 2008
The Abu Dhabi National Energy Company PJSC (TAQA), confirmed today that it has, through its wholly owned subsidiary TAQA Bratani Limited, entered into exclusive negotiations with

Abu Dhabi, United Arab Emirates - The Abu Dhabi National Energy Company PJSC (TAQA), confirmed today that it has, through its wholly owned subsidiary TAQA Bratani Limited, entered into exclusive negotiations with Shell U.K. Limited (Shell) and Esso Exploration and Production (UK) Ltd (ExxonMobil) for the purchase of their equity interests in the Tern, Eider, Cormorant North, South Cormorant fields and related sub-sea satellite fields and infrastructure, situated in the Northern North Sea.

This arrangement does not constitute a purchase agreement at this stage and any purchase by TAQA will be subject to satisfactory completion of due diligence and the negotiation of a sale and purchase agreement with the sellers, Shell and Esso.

In relation to today’s announcement, TAQA have signed Heads of Agreement that, subject to proceeding with the agreement and to regulatory approval, TAQA appoints Wood Group Engineering (North Sea) Ltd (Wood Group) as the initial Duty Holder providing full integrated services. The intention is for TAQA to become Duty Holder in due course with Wood Group continuing to provide integrated services.

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL