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Taqa Takes Over Operations Of Brent System

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TAQA takes over operations of Brent System

TAQA Bratani Limited, the UK division of the Abu Dhabi National Energy Company PJSC (TAQA), became the new operator of the North Sea Brent System pipeline and facilities on Aug. 1. TAQA takes over from Shell UK Exploration and Production, which held the position since the mid-1970s.

The Brent System is a joint venture between 21 companies. It consists of a proportion of the processing systems and structure on the TAQA-operated Cormorant Alpha platform as well as the 150 kilometers (93.2 miles) pipeline connecting Cormorant Alpha to the BP-operated Sullom Voe Oil Terminal in the Shetland Islands. TAQA owns a 24 percent share in the terminal.

The Brent System is responsible for transporting around 100,000 b/d of oil from some 20 North Sea fields, accounting for about 37 percent of the Sullom Voe Terminal input and around eight percent of UK offshore oil production.

TAQA Bratani Managing Director Lee Koot said, "This is an excellent fit with TAQA's growing North Sea portfolio and underlines our commitment to being a major player among the energy producers for the UK. This is the latest step in our North Sea activity program which this year already has seen TAQA increase production from our operated assets, initiate drilling and near-field exploration.

"Operating the Brent System is a serious undertaking. TAQA has recruited experienced staff and installed first class IT and systems infrastructure to enable us to advise and liaise with our Brent System Partners."

Taqa becomes N Sea Brent operator

The UK arm of the Abu Dhabi National Energy Company, Taqa Bratani, said on Monday it had taken over as operator of the North Sea Brent system pipeline and facilities from Aug 1.

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).

To make the benchmark more liquid, three other North Sea crude oil grades are now also used to calculate the daily market price. 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 km pipeline connecting Cormorant Alpha to the BP operated Sullom Voe Oil Terminal in the Shetland Islands. Taqa owns a 24 percent share of that terminal.

The Brent System is responsible for transporting around 100,000 bpd of oil from around 20 North Sea oilfields, accounting for about 37 percent of the Sullom Voe Terminal input and around 8 percent of UK offshore oil production, Taqa said in a statement

Britain. Chucking away energy sovereignty since Britoil.

Welcome a scary and more expensive future.

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