TAQA takes over as operator of the North Sea Brent system
Monday, Aug 03, 2009
TAQA Bratani Limited, the UK arm of the Abu Dhabi National Energy Company PJSC (TAQA), announces today it became the new Operator of the North Sea Brent System pipeline and facilities on 1st August 2009. TAQA takes over from Shell UK Exploration and Production, which held the position since the mid 1970s.
Leo Koot, TAQA Bratani Managing Director, said: “This is an excellent fit with TAQA’s growing North Sea portfolio and underlines our commitment to being a major player among the energy producers for the UK. This is the latest step in our North Sea activity program which this year already has seen TAQA increase production from our operated assets, initiate drilling and near-field exploration.
“Operating the Brent System is a serious undertaking. TAQA has recruited experienced staff and installed first class IT and systems infrastructure to enable us to advise and liaise with our Brent System Partners.”
The Brent System is a joint venture between the 21 companies who each own a share in the System. It consists of a proportion of the processing systems and structure on the TAQA operated Cormorant Alpha platform as well as the 150km pipeline connecting Cormorant Alpha to the BP operated Sullom Voe Oil Terminal in the Shetland Islands. TAQA owns a 24% share in the Terminal.
The Brent System is responsible for transporting around 100,000 bbls/d of oil from some 20 North Sea fields, accounting for some 37% of the Sullom Voe Terminal input and around 8% of UK offshore oil production.
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 £500 million 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 AED 86 billion (US$ 23.5 billion). One of the largest companies listed on the Abu Dhabi Securities Exchange (ADX), with 2008 revenue of more than AED 16 billion (US$ 4.4 billion), 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.
Source: TAQA
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