TAQA joins search on Timon

Wintershall has agreed to assign TAQA Bratani an 18% interest in UK northern North Sea blocks 211/11b and 211/16b.

Offshore staff

ABERDEEN, UK – Wintershall has agreed to assign TAQA Bratani an 18% interest in UK northern North Sea blocks 211/11b and 211/16b.

In exchange, TAQA will participate in an exploration well on the Timon prospect, 16 km (9.9 mi) northwest of the company’s Eider field and 8 km (5 mi) east of Otter field.

The MPX North Sea–operated well should spud this summer.

Leo Koot, managing director of TAQA Bratani, said: “This is a milestone for TAQA because we join a joint venture which wants to test a prospect which is located close to TAQA-owned infrastructure in the east of Shetlands basin.

“This move not only fits our strategy to increase the size of TAQA’s footprint in the northern North Sea but moreover this in an exciting and technically attractive opportunity in a proven hydrocarbon fairway.

“Now that we have established ourselves as a competent operator, we are looking at our next move strategically and farm-ins are one tool that we intend to use to help TAQA achieve its aspirations for growth.”

06/13/2011

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