Taqa sticks, Serica twists: What’s the landscape for North Sea M&A deals?
With Serica Energy looking outside of the UK North Sea for M&A deals and Taqa deciding to hold onto its UK assets, what are the implications for the market?
Taqa
Abu Dhabi’s Taqa to retain most oil and gas assets after review
Abu Dhabi National Energy Co. said it will retain the vast majority of its oil and natural gas assets following a review, citing the strong contribution of those businesses to earnings.
Taqa completes major decommissioning operation at Brae field
Taqa has celebrated completion of a major decommissioning project at the Brae field in the North Sea.
Work resumes on giant Brae decommissioning campaign for Taqa
Work has resumed on a huge decommissioning campaign at the Taqa-operated Brae field in the North Sea
Taqa and ADNOC take control of UAE’s Masdar in $2bn deal
Taqa and ADNOC have struck a $1.9 billion deal to acquire controlling stakes in Abu Dhabi’s clean energy firm Masdar.
Petrojet, Taqa sign deals on Equatorial Guinea work
Egyptian companies have struck deals to carry out work in Equatorial Guinea, according to recent high-level talks.
Regulator approves removal plans for Brae Bravo jacket
Regulators have approved TAQA’s plans to remove a section of the remaining jacket structure at Brae Bravo, following a successful topsides decommissioning campaign last year.
North Sea strikes: ‘Wildcat action is in no one’s interest’ says trade body
The industry trade body has hit back at a series of unofficial strikes taking place in the North Sea.
Regulator helping CNR, EnQuest, TAQA and TotalEnergies to halve subsea decom costs
Industry regulator the North Sea Transition Authority (NSTA) has released a new dataset to help four North Sea operators to reduce their decommissioning costs by 50%.
Top North Sea operators to share plans for £1bn combined subsea decom portfolio
A cohort of North Sea oil and gas operators will set out plans for a combined subsea decommissioning campaign this week, as part of efficiency efforts led by the North Sea Transition Authority (NSTA).
Offshore worker died after lifeboat fell into the North Sea, FAI rules
An offshore worker died when a lifeboat he was doing routine maintenance checks on fell from a platform into the North Sea, a Fatal Accident Inquiry has found.
HSM Offshore Energy picked to manufacture two North Sea platforms
Dutch engineering firm HSM Offshore Energy has bagged a deal to fabricate two North Sea platforms.
Morocco dishes out solar work under Noor plan
Morocco’s Masen agency and Ministry of Energy Transition and Sustainable Development have handed out a number of sites to companies to build solar photovoltaic (PV) plants.
Could the energy security crisis boost the path to renewables?
Sky-high oil prices and extreme volatility have exposed the fragility of the world’s dependence on fossil fuels.
Taqa drawing up major decommissioning contract for Brae Alpha
Taqa is preparing a lucrative contract for work on one of its major North Sea decommissioning campaigns.
OPRED approves decom plans for Cormorant Alpha topsides
TAQA has received formal approval for its decommissioning plan (DP) covering the Cormorant Alpha topsides, with work slated begin from 2026 at the earliest.
Aberdeen’s Tendeka acquired by Saudi Arabian firm TAQA
Aberdeen-headquartered energy services firm Tendeka has been acquired by Saudi Arabian oilfield services company TAQA.
Dozens of North Sea helicopter flights grounded as Storm Eunice hits
Dozens of flights going to and from North Sea oil and gas installations have been impacted as Storm Eunice hits the region.
TAQA Group sees profits rise to £1.3bn
The Abu Dhabi-based energy group said it had delivered a ‘very strong’ performance in 2021, underpinned by its utilities business and boosted by higher commodity prices.
Masdar prepares to “supercharge” with 2030 target
Masdar has ambitious plans to scale up its power capacity and sees the entry of Adnoc and TAQA as set to “supercharge” its business.
Masdar sets 100 GW renewable energy target for 2030
Masdar aims to be the world’s largest renewable energy company in the world, with a 100 GW target by 2030.
ADNOC unveils £2.7billion electrification project for huge offshore oil and gas fields
ADNOC has unveiled a £2.7billion development for electrification of giant offshore oil and gas fields off Abu Dhabi.
OGA issues warning to operators over North Sea deals
The Oil and Gas Authority (OGA) has issued a warning to operators over a type of M&A deal which risks firms defaulting on their liabilities.
Adnoc, TAQA move on Masdar’s energy, hydrogen units
Adnoc and TAQA have set out a plan to take a leading stake in Masdar’s renewable energy and hydrogen businesses.
Exclusive: Brae Area partner defaults on decommissioning costs after buying stake for 75pence
A company which bought stakes in the Taqa-operated Brae Area for just 75pence last year has now defaulted on its decommissioning liability.