UAE Taqa considers the potential sale of asset of oil and gas

The Abu Dhabi National Energy Company (TAQA) said Wednesday it could sell some or all of its oil and gas assets as part of a strategic review.

TAQA stated in a statement that the review will take into account the evolution of the global energy industry as it moves towards a cleaner and more sustainable future.

Major energy companies are setting targets to reduce greenhouse gas emissions or are exploring investments in renewable energy and green technologies amid growing pressures from investors and environmental activists.

Owned by the government-owned holding company of Abu Dhabi, TAQA has a portfolio of North Sea energy assets in the UK, the Netherlands, in Canada and Iraqi Kurdistan.

He said the company will consider all options, including selling some or all of its assets, or it may decide to hold and develop assets within the larger group.

TAQA’s portfolio includes onshore and offshore exploration activities and activities for the development and production of crude oil, natural gas and natural gas liquids. It also works in gas storage, processing and transportation of oil and gas.

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