TAQA: Major Projects on Schedule
Abu Dhabi National Oil Company (TAQA) reported late Wednesday that four major projects it is currently involved in are on schedule and within budget. This includes the Atrush oil and gas field in Kurdistan, which is due for completion in 2015.
Reporting its third quarter results for 2013, TAQA highlighted the successful completion of the integration of the Harding, Morrone and Maclure fields in the UK North Sea. In addition, the company noted the return to full production of the Cormorant Alpha platform in late August. Cormorant Alpha suffered two leaks in January and March this year, which meant that production from the platform had to be shut-in for several months.
Cormorant Alpha's return to production helped TAQA boost its UK production to 57,800 barrels of oil equivalent per day during the third quarter – an increase of 39 percent over 3Q 2012.
TAQA CEO Carl Sheldon commented in a company statement:
"I am proud of the strong operational performance across the company as we recovered from the challenges faced in the first half of the year. In the UK, seamless integration of the assets we acquired in the Central North Sea, combined with the restoration of production at Cormorant Alpha, led to record levels of production in September."
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