Taqa optimistic about UK’s oil, gas sector investments

Hamad Al-Hurr Al-Suwaidi, Chairman of the Board of Directors of Abu Dhabi National Energy Company (Taqa) expressed optimism about the future of the UK’s North Sea oil and gas industry, where the company is a major investor. He made the comments after a meeting with David Cameron, Prime Minister of the United Kingdom of Great Britain and Northern Ireland. Carl Sheldon, Taqa’s Chief Executive Officer, was also present at the meeting in Abu Dhabi. Taqa is one of the fastest-growing exploration and production companies working in the UK North Sea. Taqa has invested over $4 billion in the business since 2007, doubling output from five offshore oilfields, and paid almost $1.2 billion in UK tax. Hamad Al-Hurr Al-Suwaidi said: “Taqa is already the largest UAE investor in the UK. We are optimistic about the future of Britain’s North Sea oil and gas industry as long as the right incentives for future investment exist.” From Gulf Today