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FINANCIAL NEWS
Abu Dhabi’s TAQA agrees to acquire 53.2% in Kurdish oil block
02 Jan 2013
(MENAFN) General Exploration Partners (GEP) Inc has agreed to sell a 53.2 percent stake in Iraqi Kurdistan’s Atrush oil block to Abu Dhabi National Energy Co (TAQA) for USD600 million, Reuters reported.
TAQA spokesman said the deal would be funded “from corporate resources”.
GEP is a venture between privately-held Aspect Energy, which owns a 66.5 percent interest, while a subsidiary of Canadian group ShaMaran Petroleum holds the rest.
TAQA will become the second UAE firm to operate in the semi-autonomous region’s energy sector after Sharjah-based Crescent Petroleum.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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