Abu Dhabi's TAQA takes over BP field in North Sea

Abu Dhabi National Energy Co takes on Harding field as part of $1.3bn acquisition deal
Abu Dhabi's TAQA takes over BP field in North Sea
(Getty Images - for illustrative purposes only)
By Reuters
Sat 01 Jun 2013 11:07 AM

Abu Dhabi National Energy Co (TAQA) on Saturday took over operation of the 20,000-barrels-per-day Harding field and output platform as part of an acquisition of BP assets in the North Sea agreed in 2011.

The $1.3bn deal involved TAQA buying BP's Central North Sea holdings in Maclure and Devenick fields as well as the 70 percent stake in Harding.

It also included raising TAQA's non-operated interests in the Brae area and associated infrastructure.

TAQA, in which the Abu Dhabi government holds a 75 percent stake, already operates the North Sea's Brent pipeline system.

TAQA said in an emailed statement that the acquisition of Devenick field is expected to be completed at a later date.

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