Business Services Industry
Abu Dhabi National Energy Company assumes operation of BP Netherlands Gas Exploration and Production business.
Middle East and North Africa Business Report, February, 2007
Feb. 4--The Abu Dhabi National Energy Company PJSC (ADSM: TAQA) announced today that it has begun officially its management of newly acquired BP Netherlands gas exploration and production (E&P) assets, ideally positioning it in the heart of Europe's burgeoning energy sector.
TAQA made public its intention to acquire BP Nederland Energie B.V. (BPNE) in late 2006, subject to certain conditions being met under a sale and purchase agreement. The sale is now complete, and TAQA -- along with its joint venture partners -- is now the majority shareholder and operator of the Dutch gas activities. BP Nederland Energie B.V. will continue as TAQA Energy B.V. TAQA's CEO addressed a town hall meeting of employees and international media representatives today from the...
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