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FINANCIAL NEWS
UK North Sea oil field to be developed by TAQA
25 Apr 2013
(MENAFN) Abu Dhabi’s TAQA announced that it will place a strategy in order to start oil production of the Cladhan field in the UK North Sea by 2015, reported Arabian Business.
TAQA aims to produce an output of 17,000 barrels of oil per day, which will dramatically increase the company’s overall oil production levels.
The energy company will acquire equity from its 40 percent owned Sterling Resources, in return for funding further projects.
It’s worth mentioning that the UK government has emphasized the importance of gas and oil discovery in the North Sea, as current reserves near depletion.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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