The company posted a loss of 1.8 billion dirham ($490.1 million) last year, compared to a loss of nearly 3 billion dirham in 2014.
Helping reduce the company's losses last year was a reduction operating expenses from 11.9 billion dirham to 9.1 billion dirham, while dry hole expenses also fell from 640 million dirham to 17 million dirham.
Taqa did book an 835 million dirham impairment in 2015, however this was much less than the 3.8
