TAQA completes acquisition of DSM Energy

Notes and media contacts

Contact Details:

TAQA Investor Relations
Tanis Thacker
Head of Investor Relations
Tel: +971 2 661 4933

Claire Maloney, Capital MS&L
Tel: +44 207 307 5341

Nick Bastin, Capital MS&L
Tel: +44 207 307 5338

TAQA Media Relations, Amsterdam
Allan Virtanen
PR Advisor
Tel: +31 20 79 75 116

TAQA Media Relations, Abu Dhabi
Reem Al Midwahi
PR Manager
Tel: +971 2 691 4940

About The 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.

About TAQA in Europe
TAQA has a strong focus on expanding its upstream and midstream activities in Europe and North Africa. In the Netherlands, TAQA acquired BP Netherlands' gas exploration and production assets including onshore, offshore and storage facilities in 2007, located in the Dutch Continental Shelf of the North Sea and in the region of Alkmaar in the North Western part of the Netherlands. TAQA's assets in the North Sea are operated under the subsidiary TAQA Energy B.V. In 2008, TAQA Energy had an average daily production of approximately 6,700 boe.

In the UK, TAQA Bratani Limited has acquired the Brae assets from Talisman Energy (UK) Limited, and completed the Drum Farm-in (an exploration prospect near Brae) with Reach Exploration (UK) Limited. In 2008 TAQA Bratani purchased the equity pertaining to operating licenses for six offshore fields and two non-operated subsea tie-backs situated in the Northern North Sea.

TAQA's existing combined European upstream operations reached an average daily production of 21,400 boe in 2008.

At present there are up to 1,000 people working for TAQA in Europe, located at operational assets or TAQA's four European offices in The Hague, Alkmaar, Amsterdam and Aberdeen.

About DSM Energy
DSM Energy participates in the exploration and production of oil and gas on the Dutch Continental Shelf. DSM participates as non-operator with a stake of up to 25% in the oil and gas joint ventures and owns interests in pipelines, including its 40% stake in Noordgastransport.

DSM Energy has a share in twenty producing oil and gas fields and participates in a number of gas field developments. All fields are located in 25 production licenses.

About Noordgastransport B.V.
Noordgastransport B.V. owns a major natural gas transmission pipeline system in the Dutch North Sea which transports gas produced offshore through a system of pipelines from gas fields in the North Sea to a processing plant in Uithuizen in the north of the Netherlands. Here, the gas is treated so that it matches customers' specifications, before being delivered to these customers.