TAQA to operate L11b-A platform

TAQA Energy has acquired a 15% interest in various interests in the Dutch North Sea.

Offshore staff

THE HAGUE – TAQA Energy has acquired a 15% interest in various interests in the Dutch North Sea. The deal is part of a transaction between the L1lb group, comprising Chevron Exploration and Production Netherlands, DSM Energie and EBN, and the L8-D Field Group partners TAQA, Cirrus Energy, DSM, Energy06 Investments, EWE, and EBN.

The acquisitions consist of a 15% interest in the L8-DUnit, L11b-A production platform servicing the L8-D gas field development, and a pipeline connecting to the Noordgastransport (NGT) offshore trunkline. Other members of the L8-D Field Group acquired the remaining 85% interest.

Following the transaction, TAQA becomes operator of the platform, with Cirrus as L11b license operator. First gas frome L8-D is due before year-end. The Ll1b license area is around 50 km (31 mi) north of the port of Den Helder.

Late last month, TAQA announced it was acquiring DSM Energie, subject to regulatory approvals. Once these have come through, DSM’s share in the L8-D Group will transfer to TAQA.

08/05/2009

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