Monday, Jul 04, 2011
LONDON (Dow Jones)--Abu Dhabi National Energy Co. (TAQA.AD), or Taqa, said Monday its U.K. unit has taken control of the Otter field, the first phase of a transaction agreed last year with French major Total SA (TOT) to acquire its 81% stake in two North Sea blocks.
The field is located in blocks P.226 Block 210/15a and P.1021 Block 210/20d, adjacent to Taqa Bratani's existing North Sea interests purchased in 2008. Otter is linked to the Taqa Bratani-operated Eider platform, the firm said Monday.
"Becoming operator of the Otter field underlines Taqa Bratani Ltd.'s long-term commitment to the North Sea," said Leo Koot, managing director of Taqa Bratani.
-By Alexis Flynn, Dow Jones Newswires, +44 207 8429471, alexis.flynn@dowjones.com
(Oliver Klaus in Dubai contributed to this report.)
(END) Dow Jones Newswires
04-07-11 1144GMT
