TAQA sells its stake in Atrush oil field to General Exploration Partners

ABU DHABI: Abu Dhabi National Energy Company PJSC (TAQA), via its fully-owned unit TAQA International BV, has signed final deals with General Exploration Partners Inc. (GEP) to divest its entire share in the Atrush oil field in the Kurdistan Region of Iraq.

Kurdistan Regional Government (KRG): The KRG holds a 25% interest in the Atrush production sharing contract.

ShaMaran Petroleum: ShaMaran is a Canadian oil and gas company that owns a 27.6% interest in Atrush Block through its subsidiary General Exploration Partners.

Abu Dhabi National Energy Company (TAQA): TAQA is the operator of Atrush and has a 47.4% stake in the project through its subsidiary TAQA International BV.

TAQA acquired part of its interest from Marathon Oil in May 2019.

TAQA reports strong first half earnings driven by utilities business