Oil firm Taqa Bratani yesterday marked two milestones in the North Sea after buying into the basin just five years ago.
The firm said it had now notched up 1,000 days as duty holder of its North Sea assets, mostly east of the Shetlands, and had seen more than 100 million barrels of oil flow through the Brent Pipeline System, which it operates.
Its parent firm, Abu Dhabi national energy and water company Taqa, also said the UK North Sea had helped contribute to the firm’s first half results, despite weak north American gas prices impacting its oil and gas business.
Taqa Bratani managing director Leo Koot said: “For the first six months of the year production volumes from our North Sea operations have seen a 4.4% increase compared to the same period last year.
“Particularly pleasing is that we have passed our 1,000th day as duty holder for our North Sea assets and more than 100 million barrels of oil have now safely passed through the Brent Pipeline System under our operatorship.”
UK North Sea production at Taqa was 43,000 barrels of oil equivalent per day (boepd), up 4.4% compared to the same period last year. Global production was 136,000 boepd, up 1%.
The firm also grew its business in the UK in the first half, entering into a farm-in agreement with Fairfield Energy for a 50% interest in two North Sea licences, which include the Darwin field.
It also bought a further 13.5% interest in the North Cladhan area of the UK Northern North Sea from Sterling Resources.