• 30 Jun 2009
  • North America

TAQA North Acquires Land in Horn River Basin

CALGARY, ALBERTA, CANADA – TAQA NORTH, a subsidiary of the Abu Dhabi National Energy Company PJSC (TAQA), a global energy company, has acquired two large land blocks in the highly prospective Horn River Basin in Northeastern British Columbia.The sale represents the last substantial blocks of land available in the basin. Ten large blocks were made available to industry in the sale.Industry has spent approximately $1.3B in land purchases so far and drilled 75 wells in the Horn River Basin in the last three years which demonstrates the highly competitive and prospective nature of the area and the wide spread belief that the basin will provide a major North American source of natural gas in the future.“The acquisition of the Horn River licenses will play a significant role in TAQA NORTH’s growth and future production.” stated TAQA NORTH Managing Director, Frederic Lesage. “TAQA NORTH will begin drilling appraisal wells this winter and we are hopeful that this will lead to one of our largest drilling programs to date over the next five to ten years,” continued Lesage.- ENDS -Contact Information for Media:Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqa.comAbout TAQAEstablished in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA’s power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA’s oil and gas business includes exploration and production, underground gas storage and pipeline transportation.Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. For more information about TAQA visit: www.taqa.com or Twitter: @TAQAGLOBAL

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