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Taqa lines up Dutch treat
By Upstream staff
Abu Dhabi National Energy Company (Taqa) unit Taqa Offshore is set to take a 50% slice of the Q11 and Q14 licences, in the Dutch sector of the North Sea, after sealing a farm in with Cirrus Energy.
The two licences lie about 40 kilometres east of the Taqa-operated P15 ACD gas complex.
Taqa sais in a statement that its stake, post EBN participation, will be 30% in both licences.
The company will make farm-in payment on a two for one basis relating to drilling costs of the first exploration well on the acreage.
The exploration well will be operated by Cirrus and is currently scheduled for drilling later this year.
Wednesday, 06 February, 2008, 11:13 GMT | last updated: Wednesday, 06 February, 2008, 11:13 GMT
