Taqa aims for first oil from N Sea in Q1 2015
Dubai, April 24, 2013
Britain has approved plans by Abu Dhabi National Energy (Taqa) to develop part of the Cladhan field in the UK North Sea, with first oil expected in early 2015, the company said in a statement on Wednesday.
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 United Arab Emirates based company said.
"The Cladhan development is the third field that Taqa has developed and the largest project to date," Leo Koot, managing director of Taqa's UK business, said.
Taqa has a 40.1 percent stake in the Cladhan field but has agreed to acquire further equity from Sterling Resources (UK) Ltd in return for providing funding to Sterling to take the project through development.
Production will be tied back to Taqa's Tern Alpha platform. – Reuters
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