UAE’s Taqa Takes Over BP’s Harding Field In North Sea

The move was part of an acquisition of BP assets in the North Sea agreed in 2011.



Abu Dhabi National Energy Co (TAQA) on Saturday took over operation of the 20,000-barrels-per-day Harding field and output platform as part of an acquisition of BP assets in the North Sea agreed in 2011.

The $1.3 billion deal involved TAQA buying BP’s Central North Sea holdings in Maclure and Devenick fields as well as the 70 per cent stake in Harding. It also included raising TAQA’s non-operated interests in the Brae area and associated infrastructure.

TAQA, in which the Abu Dhabi government holds a 75 per cent stake, already operates the North Sea’s Brent pipeline system.

TAQA said in an emailed statement that the acquisition of Devenick field is expected to be completed at a later date.