Taqa Starts Production at Kurdistan Oil Block

Press release

Published July 4th, 2017 - 10:14 GMT

Saeed Mubarak Al Hajeri, chairman of Taqa. (Taqa)

Abu Dhabi National Energy Company (Taqa) announced on Monday that oil production has started at its Atrush Block in the Kurdistan Region of Iraq.

The Taqa-operated Atrush Block is being developed together with the Kurdistan Regional Government, ShaMaran and Marathon Oil.

“Starting operations at Atrush is an important milestone for Taqa, its co-venturers and the Kurdistan Region of Iraq. Atrush production will bring long-term cash flows to Taqa and we look forward to operating the asset with a commitment to the highest standards of health, safety and environmental protection,” said Saeed Mubarak Al Hajeri, chairman of Taqa, in a statement.

The Atrush field is located 85km north-west of Erbil and is one of the largest new oil developments in the Kurdistan Region of Iraq. It was discovered in 2011 and development started in 2013. Initial production is expected to ramp up to 30,000 barrels of oil equivalent per day in 2017.

Taqa is the operator of Atrush and has a 39.9 per cent working interest in the production-sharing contract. The other co-venturers are the Kurdistan Regional Government (25 per cent), General Explorations Partners, Inc (a wholly-owned subsidiary of ShaMaran Petroleum Corp, with 20.1 per cent), and Marathon Oil (15 per cent).

Source: Gulf News

Background Information

Abu Dhabi National Energy Company

Abu Dhabi National Energy Company (TAQA) is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange.

Its activities include oil and gas, power generation and water desalination across five continents. With operations in the UK, the Netherlands and North America, our oil and gas business includes exploration and production, storage and pipelines. It produces almost 137,000 barrels of oil equivalent per day in the North Sea and North America, as well as operating and developing extensive gas storage facilities in the Netherlands.

TAQA is the 6^th largest independent power producer in the world. Its power plants are located in the United Arab Emirates, Morocco, Saudi Arabia, Ghana, India, and the United States. TAQA is the majority owner in the facilities that provide 98% of the water and electricity requirements in the Emirate of Abu Dhabi.

Established in 2005, TAQA’s entrepreneurial culture has laid the foundations for long-term sustainable growth building on its commitment to people, safety and the environment.