Taqa acquires share in Kurdistan oil block
- United Arab Emirates: Thursday, January 03 - 2013 at 06:47
Abu Dhabi National Energy Co (Taqa) has acquired a 53.2% operating interest in Iraqi Kurdistan's Atrush oil block for $600m from General Exploration Partners (GEP), Reuters has reported. The acquisition marks the first time the Abu Dhabi-based company has operated an oil and gas project in the Middle East. GEP is a venture between privately-held Aspect Energy, which owns a 66.5% interest, with the remainder held by a subsidiary of Canadian group ShaMaran Petroleum. "It's part of our strategy to expand in the Middle East and North Africa (Mena) region," a spokesman for Taqa said. Production is expected to start in 2013 and the acquisition would be funded "from corporate resources," the spokesman said.
- Iran plans national fleet expansion
- Total acquires 80% stake in Kurdistan block
- BlackBerry gears up to open first Middle East...
- Gamification hits the Middle East
- Forum International introduces www....
- Twofour54 Briefing Room connects companies with...
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by Mediaquest FZ LLC and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
Mediaquest FZ LLC can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of Mediaquest FZ LLC.
In no event shall Mediaquest FZ LLC be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.