Taqa takes over as operator of the North Sea Brent System

Notes and media contacts

Taqa Bratani Limited

Taqa Bratani Limited is a fully integrated Upstream Exploration and Production company working in the UKCS. The company is wholly-owned by the Abu Dhabi National Energy Company PSJC (Taqa). Taqa Bratani's strategy is to become a leading exploration and production company in the UKCS integrated with Taqa's other European subsidiaries. It is committed to building a successful, long-term future for its growing North Sea portfolio.

Taqa Bratani's portfolio consists of the Brae assets (which includes significant interests in the South, North, Central, West and East Brae fields, the Beinn field, Braemar field, as well as the SAGE pipeline and onshore terminal and the Brae-Miller Linkline), 100% operated equity in the Tern, Kestrel, Eider, Cormorant North, South Cormorant and Pelican Fields, and a combined 26.73% interest in the Dana operated Hudson field together with a 16% interest in the Brent System and a 24% interest in the Sullom Voe Terminal.

Taqa Bratani's development program for its operated assets consists of a capital expenditure commitment of £500m to be made over the next three years.
Taqa Bratani employs directly and indirectly some 800 personnel in the UKCS and onshore.

Abu Dhabi National Energy Company PJSC (Taqa)

Founded in 2005, Taqa (Abu Dhabi National Energy Company (PJSC)) is a global energy company with a growing asset base of Dhs86bn ($23.5bn). One of the largest companies listed on the Abu Dhabi Securities Exchange (ADX), with 2008 revenue of more than Dhs16bn ($4.4bn), Taqa is a flagship corporation for the Government of Abu Dhabi.

Taqa's strategic goal is to build and operate a geographically diverse global portfolio of energy businesses across the value chain. It has operations in power generation, water desalination, upstream oil/gas, pipelines, and gas storage. Taqa employs approximately 2,800 people from 41 different nations and operates from its offices in: Abu Dhabi; Ann Arbor, Michigan; Aberdeen; Amsterdam; Calgary and The Hague. This footprint is further extended through alliances with partners across Africa, the Middle East, Europe, North America and India.

Taqa carries an Aa2 credit rating from Moody's.

For more details:
Taqa
Anne Blaydon, Taqa Bratani Limited
PR Manager
Tel.: +44 1224 275565
anne.blaydon@taqa.eu

Tanis Thacker, Taqa Abu Dhabi
Head of Investor Relations
Tel.: +971 2 661 4933