TAQA takes slice of Darwin discovery in North Sea

Offshore staff

ABERDEEN, UK – Abu Dhabi National Energy Co. (TAQA) has agreed on farm-ins to three licenses in the UK northern North Sea.

The company’s subsidiary TAQA Bratani will acquire a 50% interest from Fairfield Energy in licenses P184, P474, and P1634, which include the Darwin oil discovery and prospective exploration acreage to the south.

All are adjacent to the TAQA-operated North Cormorant and Pelican fields and cover blocks 211/27a, 211/27c and 211/27e. In exchange, TAQA will perform a work program on the acreage and issue a cash payment to Fairfield. 

Leo Koot, managing director of TAQA Bratani, said: “Darwin has very exciting exploration and development potential and we look forward to working with Fairfield to appraise the opportunity.”

The transactions are subject to government and third party approvals, but should be complete over the next few months.

2/13/2012

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