The Abu Dhabi National Energy Company (Adnec) has officially begun managing its newly acquired BP Netherlands gas exploration and production assets, the company said yesterday.
The company announced its intention to purchase the assets late last year and the sale is now complete. Adnec, along with its joint venture partners, are now majority shareholders and operators of the Dutch gas activities. BP Nederland Energie will continue as Taqa Energy.
“The acquisition of these BP E&P assets, and the related creation of Taqa Energy in the Netherlands is a critically strategic undertaking for Taqa, and we believe that the European Commission will view favorably our entry into the region’s energy sector,” said Adnec CEO Peter Barker-Homek.
“By assuming control of an existing operation with significant interests in the upstream, midstream and downstream businesses,” said Barker-Homek.
“Taqa has positioned itself well at the centre of the ‘Energy Roundabout’ of Europe, ideally located between Europe’s two main demand centers, the UK and Germany.”