The Abu Dhabi National Energy Company PJSC (TAQA) says that it’s wholly owned subsidiary, TAQA Energy B.V. (TAQA Energy), has acquired a 15% interest in North Sea assets from the L11b Group, comprising Chevron Exploration and Production Netherlands B.V, DSM Energie B.V. and EBN for an undisclosed amount. The deal is part of a transaction between the L11b Group and the L8-D Field Group, comprising TAQA Energy, Cirrus Energy Nederland B.V., DSM Energie B.V., Energy06 Investments B.V., EWE AG and EBN.

The acquisition consists of a 15% interest in the L8-D Unit, L11b-A production platform which services the L8-D gas field, and a pipeline connection to the Noordgastransport (NGT) pipeline. The remaining 85% interest was acquired by the other members of the L8-D Field Group.

Following the acquisition, the L8-D Field Group has appointed TAQA Energy as operator to the L11b-A production platform with effect from 1 August 2009. Cirrus Energy Nederland B.V. is the L11b licence operator. First production is expected to begin before the end of the year.

Paul van Gelder, TAQA Europe Managing Director, said: “With its increased presence in the region, TAQA has consistently demonstrated its reliability as a North Sea operator. Today’s appointment is a clear recognition of this. The arrangement leverages TAQA’s existing offshore operating capabilities and our infrastructure in the Netherlands; benefiting all parties by enabling the earliest possible start of production. Our focus now is to make certain that the transition is swift to ensure consistency in the development of the gas field.”

Tags: The Abu Dhabi National Energy Company PJSC (TAQA)