• 27 Oct 2009
  • Europe

TAQA Bratani announces first new North Sea oil well on stream

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 DhabiTel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqa.comAbout TAQAEstablished 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.taqa.com or Twitter: @TAQAGLOBAL

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