Banner

The announcement that oil firm TAQA has agreed to purchase assets in the North Sea belonging to BP for $1 billion has been hailed by local MSP Dennis Robertson.

Abu Dhabi headquartered TAQA - whose UK office is based in Westhill - is expected to increase their net production by 21,000 barrels of oil equivalent per day once the purchase is complete.

The development comes as a new report from Scottish Enterprise anticipates that 86 new oil & gas fields will begin development in the North Sea by 2016, with investment of £44 billion expected.

Commenting, SNP MSP Dennis Robertson whose constituency includes Westhill said:

“This is a real signal of intent from TAQA and underlines their determination to remain a significant player in the North Sea oil & gas sector.

“It is a significant boost to Westhill and to the wider region that TAQA has committed itself to the North Sea industry in the long term.

“The move lends significant weight to Scottish Enterprise’s predictions of the substantial activity and investment that their report anticipates will take place in the North Sea in coming years.

“I am delighted at this news and what it will mean for the company.”

Comments  

 
# ituna semea 2012-11-29 20:04
Taqua is 75% indirectly owned by the government of Abu Dhabi and this is seen as a vehicle to enable BP to regain its position in the Emirate.
 
 
# Edna Caine 2012-11-29 21:12
ituna semea -

Great news for all. Especially if BP can regain its position in the UAE.

They have also raised a few quid towards paying for Deepwater Horizon.

Taqa seem delighted to take this on and get a piece of Brent.

Even Dinky Davy seems happy -

news.yahoo.com/.../

" 'This is a vote of confidence in the UK economy and once again, highlights the North Sea's position as a global energy hub' Cameron was quoted in a TAQA statement as saying"
 

You must be logged-in in order to post a comment.

Banner

Donate to Newsnet Scotland

Banner

Latest Comments