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Taqa hails strong UK performance in first half of 2019

Taqa’s European boss said robust production at its UK assets underpinned a strong first half of the year.

The Abu Dhabi-owned firm’s European operations posted a profit of £85.4m in the six month period, up from £50.2m at the same time last year.

Meanwhile the wider group’s pre-tax profits were down slightly from last year from £224.2m to £217.5m, but revenues increased four percent to £2billion.

The European business covers oil and gas operations in the UK and Netherlands.

The period saw highlights including a well intervention campaign at the Pelican field where plug and abandonment work also took place.

The North Cormorant platform also underwent a maintenance campaign at one well, with the work helping keep production “robust”.

European managing director Donald Taylor said: “Our Europe business continued to focus on HSE and operational excellence during the first half of 2019.

“Robust production volumes are being driven by a successful well intervention campaign on the Pelican field, which delivered above expectations, and strong reliability across our UK assets.

“The North Cormorant platform successfully completed the first well workover of its current drilling campaign, with the second well workover underway.

“The MSSO1 mobile drilling unit continued on hire during the second quarter, completing P&A work on the Pelican field, before moving to undertake further P&A work on additional subsea wells.

“We are well positioned for another successful year in 2019, with continued capital spend and a relentless focus on safe and reliable operations.”

 

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