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Taqa gets UK's nod for North Sea field development
- United Arab Emirates: Thursday, April 25 - 2013 at 14:42
The ADX General Index gained the fourth session straight Thursday, ending up 1.04% at 3,287.87 points. But unlike at the Dubai bourse DFM, trading volumes remained low with 102m shares worth Dhs223m changing hands. Food and beverage importing and producing firm Agthia Group (10.69% at Dhs2.90) gained the most. The shares of Abu Dhabi National Energy Co, better known as Taqa, slipped 0.77% to Dhs1.29. Earlier in the day, Taqa said in an e-mailed statement it received green light from the British government to develop the Cladhan oil field in the North Sea. Production shall start in Q1 2015 with an expected output of 17k barrels of oil per day. Taqa, the UAE's biggest energy firm, holds 40.1% in the Cladhan field and considers to increase its share to 52.7%, the company added.
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Gérard Al-Fil, Financial JournalistThursday, April 25 - 2013 at 14:42 UAE local time (GMT+4)
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