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TAQA plans to sell shares in Atrush oil field

TAQA plans to sell shares in Atrush oil field
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TAQA
TAQA
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Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) unveiled definitive agreements with General Exploration Partners (GEP) to sell all of its interest in the Atrush oil field in the Kurdistan Region of Iraq.

TAQA entered into the deal through its wholly-owned subsidiary, TAQA International BV, according to a bourse statement.

Meanwhile, the transaction is subject to obtaining third-party approvals.

Earlier this month, TAQA joined a consortium for an AED 1.50 billion joint project in Saudi Arabia, along with Vision International Investment Company (Vision Invest) and Gulf Investment Corporation (GIC).

In the first nine months (9M) of 2023, the ADX-listed firm logged net profits valued at AED 15.19 billion, an annual jump from AED 6.57 billion.