TAQA Bratani, the UK arm of Abu Dhabi national energy company TAQA said yesterday that production had started from its first new North Sea well.
It was drilled from its North Cormorant platform.
It is a side track from a well in the Cormorant field and is now producing about 10,000 barrels of oil equivalent a day.
Managing director Leo Koot said: “This is another milestone for TAQA Bratani.
“In the nine short months since we purchased four operated platforms, we have achieved a tremendous amount, including reactivating the dormant North Cormorant platform drilling rig to full working order and successfully drilling this significant producing well. This is a testament to the hard work of our people and our commitment to building a material business in the North Sea, driving development, creating employment and extending the field life of our producing assets.”
The new production well is part of a programme of activity TAQA Bratani has planned for 2009-10.
Energy Minister Lord Hunt said of the new well: “This is very good news for the North Sea and the UK economy.
“The government is actively encouraging increased activity in the North Sea and it is heartening to see TAQA delivering on its promise and investing in its recently acquired assets. This is the kind of activity which will protect jobs and help secure the long-term future of the basin.”
TAQA completed its £420million acquisition of interests in seven oil fields from Shell UK and Esso Exploration and Production (UK) in December 2008.
The deal included 100% and operatorship of the Tern, Kestrel, Eider, North Cormorant, South Cormorant and Pelican fields. It also took in a 26.73% stake in the Dana-operated Hudson field, plus a 16% interest in the Brent pipeline system and a 24% interest in the Sullom Voe oil terminal.
The UK arm of TAQA has a capital expenditure commitment of £500million to be made over three to five years on the four platforms in the deal. TAQA Bratani, which has its headquarters at Westhill, near Aberdeen, employs about 800 people directly and indirectly.
