ID :
73750
Tue, 08/04/2009 - 15:43
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Shortlink :
https://www.oananews.org//node/73750
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Taqa new North Sea Brent operator
London - The UK arm of the Abu Dhabi National Energy Co, Taqa Bratani Ltd, said it had taken over as operator of the North Sea Brent system pipeline and facilities from August 1 according to a Reuters report.
Taqa said it replaced Shell UK Exploration and Production, a unit of Royal Dutch Shell, which had held the position since the mid-1970s. A spokeswoman for Shell had no immediate comment.
Brent became the benchmark North Sea crude oil, used for pricing around two thirds of the physical crude oil traded on the world's spot markets, but the oilfield has matured and production has dwindled this year to just over 100,000 barrels per day (bpd).
The North Sea benchmark is used in settling Brent crude oil futures traded on the Intercontinental Exchange (ICE).
A company statement quoted Taqa managing director Leo Koot as saying the new role was an excellent fit with Taqa's growing North Sea portfolio and underlined the company's commitment to being a major player among the energy producers in the British North Sea.
"This is the latest step in our North Sea activity programme which this year already has seen Taqa increase production from our operated assets, initiate drilling and near-field exploration," Koot said.
The Brent system is jointly owned by 21 companies. It consists of part of the processing systems and structure on the Cormorant Alpha platform, operated by Taqa, as well as a 150 kilometre pipeline connecting Cormorant Alpha to the BP operated Sullom Voe Oil Terminal in the Shetland Islands. Taqa owns a 24 per cent share of that terminal.
The Brent System is responsible for transporting around 100,000 bpd of oil from around 20 North Sea oilfields, Taqa said in a statement. – Reuters
Taqa said it replaced Shell UK Exploration and Production, a unit of Royal Dutch Shell, which had held the position since the mid-1970s. A spokeswoman for Shell had no immediate comment.
Brent became the benchmark North Sea crude oil, used for pricing around two thirds of the physical crude oil traded on the world's spot markets, but the oilfield has matured and production has dwindled this year to just over 100,000 barrels per day (bpd).
The North Sea benchmark is used in settling Brent crude oil futures traded on the Intercontinental Exchange (ICE).
A company statement quoted Taqa managing director Leo Koot as saying the new role was an excellent fit with Taqa's growing North Sea portfolio and underlined the company's commitment to being a major player among the energy producers in the British North Sea.
"This is the latest step in our North Sea activity programme which this year already has seen Taqa increase production from our operated assets, initiate drilling and near-field exploration," Koot said.
The Brent system is jointly owned by 21 companies. It consists of part of the processing systems and structure on the Cormorant Alpha platform, operated by Taqa, as well as a 150 kilometre pipeline connecting Cormorant Alpha to the BP operated Sullom Voe Oil Terminal in the Shetland Islands. Taqa owns a 24 per cent share of that terminal.
The Brent System is responsible for transporting around 100,000 bpd of oil from around 20 North Sea oilfields, Taqa said in a statement. – Reuters
