According to Taqa Bratani, the assets include equity and operatorship of Tern, Kestrel, Eider, Pelican, Cormorant North and South Cormorant fields (TENC-CA) and related infrastructure, a non-operated interest in Hudson, and equity interests in the Sullom Voe Terminal and Brent System.
Taqa Bratani will assume responsibility for the decommissioning liabilities relating to these fields and infrastructure. This concludes the transaction for which, sale and purchase agreements were signed between the parties.
Abu Dhabi National Energy Company (Taqa) has appointed John Wood Group as its initial operating and maintenance contractor and initial duty holder. A total of 133 Shell staff transferred employment to Taqa Bratani in accordance with the Transfer of Undertakings (Protection of Employment) Regulations (TUPE) as of December 1, 2008, said the company.
Tom Botts, executive vice president of Shell Exploration & Production in Europe, said: “At Shell, we are committed to focus on where we can best use our people, capital and technologies, for long-term returns. Shell remains committed to Europe and the North Sea as a core business area and holds a strategic position in security of energy supply to the UK.”
