TAQA Takes Stakes In North Sea

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To acquire 50% interest in licenses P184, P474 and P1634, which include Darwin oil discovery, in U.K. North Sea.

Abu Dhabi National Energy Co. PJSC (TAQA) reported two farm-in agreements with a subsidiary of Fairfield Energy Ltd. for oil and gas licenses in the U.K. North Sea.

The agreements will result in TAQA Bratani Ltd., a subsidiary of TAQA, acquiring a 50% interest in Licenses P184, P474 and P1634 which include the Darwin oil discovery and prospective exploration acreage south of Darwin. The licenses are located next to the TAQA operated North Cormorant and Pelican fields in the northern North Sea and cover Blocks 211/27a, 211/27c and 211/27e.