TAQA Bratani Pumps Oil from First North Sea Well

TAQA Bratani, (the UK arm of the Abu Dhabi National Energy Company PJSC), today announced production from its first new North Sea oil well. The well was drilled from the TAQA Bratani operated North Cormorant platform and was completed safely, on time and within budget. This latest producing well is a side track from the existing CN30 well in the Brent reservoir of the Cormorant field and lies in around 530 feet of water. The well is expected to produce around 10,000 barrels of oil equivalent a day.

Leo Koot, TAQA Bratani Managing Director, said, "This is another milestone for TAQA Bratani. In the nine short months since we purchased four operated platforms we have achieved a tremendous amount, including reactivating the dormant North Cormorant platform drilling rig to full working order and successfully drilling this significant producing well.

"This is a testament to the hard work of our people and our commitment to building a material business in the North Sea, driving development, creating employment and extending the field life of our producing assets."

The new production well is part of a program of activity TAQA Bratani has planned for 2009/2010, which includes further platform in-fill drilling and mobile drilling for subsea development wells. Seismic has also been acquired on all TAQA Bratani northern North Sea acreage and is being processed to identify further development targets.

Lord Hunt, Energy Minister, said, "This is very good news for the North Sea and the UK economy. The Government is actively encouraging increased activity in the North Sea and it is heartening to see TAQA delivering on its promise and investing in its recently acquired assets. This is the kind of activity which will protect jobs and help secure the long term future of the basin."

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