DUBAI, Dec 31, 2007 (Dow Jones Newswires)
Abu Dhabi National Energy Co., or TAQA, on Monday completed the acquisition of Canada-based Talisman Energy's non-operated oil and natural gas assets in the Brae area of the U.K., the company said in a statement.
The Abu Dhabi government-controlled company acquired Talisman's Brae assets for $550 million in January.
TAQA said earlier this month that it plans to complete the acquisition of Canada's PrimeWest Energy Trust in January, helping the company turn into a formidable northern American oil player.
TAQA in September paid C$5 billion, including debt, for PrimeWest Energy, the company's third acquisition in Canada in 2007.
In August, TAQA closed the $2-billion purchase of Northrock Resources, the Calgary-based exploration arm of Houston's Pogo Producing Co. and announced plans to acquire Pioneer Canada for $540 million.
The transactions have helped TAQA build up current assets worth $21 billion and boosted hydrocarbons production to 165,000 barrels a day of oil equivalent, its chief executive Peter Barher-Homek said earlier this month.DUBAI, Dec 31, 2007 (Dow Jones Newswires)
Most Popular Articles