TAQA moves in to Brae

Abu Dhabi National Energy Co. (TAQA) has completed acquisition of Talisman Energy's interests in the Brae area of the central UK North Sea.

Offshore staff

ABU DHABI, UAE --Abu Dhabi National Energy Co. (TAQA) has completed acquisition of Talisman Energy's interests in the Brae area of the central UK North Sea.

Talisman's net production from the Brae assets, operated by Marathon Petroleum, averaged around 14,600 boe/d in 2007. As of Dec. 31 2006, its proven reserves in the area were 18.5 MMboe, with proven plus probable reserves of 34 MMboe.

Last February, TAQA also entered the Dutch North Sea when it purchased BP's offshore and onshore interests.

The company plans to establish a new operational headquarters in Aberdeen later this year for TAQA Bratani, the division responsible for the Brae transaction.

According to TAQA Energy CEO Peter Barker-Homek, "The Brae area infrastructure has significant future growth potential, and provides a robust and reliable base for TAQA to build and grow our UK business."

01/07/2008

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