Abu Dhabi – Mubasher: Company announced Abu Dhabi National EnergyToday, Wednesday, it announced that it had conducted a strategic review of the company’s operations in the oil and gas sector.
The company said in a press statement that the review aims to evaluate the strategic options for the oil and gas division, and the optimal path for its future development, taking into account the development of the global energy sector in light of the current efforts to move towards a cleaner future.
The company stated that it will consider all available options, including selling some or all of the assets, or keeping and developing the assets within the “TAQA” group.
It is worth noting that since 2005, TAQA has succeeded in building a high-quality portfolio of oil and gas exploration, transportation and storage operations in the North Sea in the UK, the Netherlands, Canada and the Kurdistan Region of Iraq.
In the first half of 2021, the total volume of production across the portfolio exceeded 124,000 barrels of oil equivalent per day, and generated revenues of 3.4 billion dirhams, and a net income of 533 million dirhams ($145 million), according to the company’s statement.
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