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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
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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