Taqa completes sale of Atrush oilfield stake to General Exploration Partners
Shafaq News/ On Wednesday, Abu DhabiNational Energy Company (Taqa) has finalized the sale of its 47.4% stake in theAtrush oilfield in Iraq's Kurdistan Region (KRI).
The company announced that “thestake was sold to British company General General Exploration Partners via TaqaInternational B.V., a wholly owned TAQA subsidiary.”
At the start of 2024, Taqa agreed tosell its entire stake in the Atrush oilfield to General Exploration Partners,stating that it “had finalized the sales agreements via Taqa International BV,but the deal is still pending approval from third parties.”
Taqa is a major integrated utilitiesprovider involved in water desalination, power generation, and oil and gas. TheAtrush oilfield near Erbil, in which Taqa holds an interest, produced about50,000 barrels of oil equivalent per day by the end of 2019. Active in variousglobal regions, the company focuses on renewables and infrastructure, withrecent investments in subsea power cables and water reservoirs, and isexploring new opportunities in Uzbekistan.
