The Netherlands: TAQA Announces Restart of North Sea Rijn Oil Production

Abu Dhabi National Energy Company PJSC (Taqa), a publicly listed company on the Abu Dhabi Securities Exchange, announced the successful restart of crude oil production from the Rijn field offshore the Netherlands, 12 years after being shut down.

Taqa applied recent advances in technology to create the restart option in the Rijn field which it acquired in 2007. The project involved workovers on five oil producing wells, five water injection wells and an upgrade of the Taqa-operated P15-C offshore facilities. All produced water is now re-injected into the reservoir and production is enhanced with newly installed Electrical Submersible Pumps (ESPs).

Jan Willem van Hoogstraten, Managing Director of Taqa Energy said:

“We are proud to have successfully restarted oil production from Rijn 25 years after the first start-up in 1985 and in less than four years after acquiring the asset. This has been an excellent demonstration of our expertise in using new technology to develop mature upstream assets, and a story of initiative, innovation and teamwork that underlies what can be achieved. The support of our partners was key in initialising the Rijn redevelopment and unlocking good quality Rijn oil reserves.”

Taqa has a 38.27% operating interest in the Rijn field. The field is situated in Block P15, 40 kilometres northwest of the Port of Rotterdam in 25 metres (82 feet) of water. The Rijn wells are connected to the Taqa-operated P15-ACD offshore production and processing facilities. Crude oil production is exported to the Port of Rotterdam via pipeline. The current production rate from the Rijn field is approximately 3,500 barrels of oil per day.

Other partners in the project are Dyas BV, 45.69%; Oranje Nassau Energie BV 14.19% and Wintershall Noordzee BV 1.84%.

About TAQA

TAQA is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange.

Its activities include oil and gas, power generation and water desalination across five continents. With operations in the UK, the Netherlands and North America, our oil and gas business includes exploration and production, storage and pipelines. It produces almost 137,000 barrels of oil equivalent per day in the North Sea and North America, as well as operating and developing extensive gas storage facilities in the Netherlands.

Its power plants are located in the United Arab Emirates, Morocco, Saudi Arabia, Ghana, India, the Caribbean and the United States. TAQA is the majority owner in the facilities that provide 98% of the water and electricity requirements in the Emirate of Abu Dhabi.

Established in 2005, TAQA’s entrepreneurial culture has laid the foundations for long-term sustainable growth building on its commitment to people, safety and the environment.

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Source:Taqa , November 24, 2010;