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Taqa to develop North Sea's Cladhan field
- United Arab Emirates: Thursday, April 25 - 2013 at 06:16
Abu Dhabi National Energy (Taqa) has said it has received the approval of the UK government to develop part of the Cladhan field in the North Sea, with first oil expected in early 2015, Reuters has reported. Cladhan is expected to produce over 17,000 barrels of oil equivalent per day initially, with first oil expected in the first quarter 2015, the company said. Taqa has a 40.1% stake in the Cladhan field but has agreed to acquire further equity from Sterling Resources in return for providing funding to Sterling to take the project through development.
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