The UK arm of Abu Dhabi national energy company TAQA said today it had produced the 5millionth barrel of oil from its new northern North Sea assets since last December.
Leo Koot, managing director of TAQA Bratani, said: “This is a milestone for TAQA and all credit is due to our TAQA and Wood Group teams.
“I am very proud of the way they have worked together to set a benchmark of safe and productive operations in the North Sea.
“Production from the platforms – Cormorant North, Cormorant Alpha, Tern and Eider – has been significantly boosted since TAQA re-introduced water injection to the reservoirs and created a culture of energy and enthusiasm on the platforms.
“We aim to build on our existing hub in the UK continental shelf, maximising exploration opportunities and acquiring acreage around our infrastructure.
“The priority is to maintain a safe and cohesive business in the North Sea that is sustainable to 2020 and beyond.”
TAQA said its European operations, which include the new North Sea assets, produce an average of 50,000 barrels of oil equivalent per day.
The company completed its £420million acquisition of interests in seven oil fields from Shell UK and Esso Exploration and Production (UK) in December, 2008.
The deal included 100% and operatorship of the Tern, Kestrel, Eider, Cormorant North, South Cormorant and Pelican fields. It also took in a 26.73% stake in the Dana-operated Hudson field, plus a 16% interest in the Brent pipeline system, which exports oil from 12 fields to Sullom Voe, and a 24% interest in the Sullom Voe oil terminal.
The UK-based arm of TAQA has a capital expenditure commitment of £500million to be made over three to five years on the new North Sea assets.
TAQA Bratani employs about 800 people directly and indirectly.
Wood Group Engineering (North Sea) is dutyholder of the new North Sea assets, although TAQA Bratani is expected to take over this responsibility later this year.