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UAE’s TAQA Sells its Stake in Atrush Oil Field in Kurdistan

Atrush oil field in the Kurdistan Region of Iraq. (The website of TAQA) 
Atrush oil field in the Kurdistan Region of Iraq. (The website of TAQA) 
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UAE’s TAQA Sells its Stake in Atrush Oil Field in Kurdistan

Atrush oil field in the Kurdistan Region of Iraq. (The website of TAQA) 
Atrush oil field in the Kurdistan Region of Iraq. (The website of TAQA) 

Dhabi National Energy Company (TAQA) is selling all of its stake in the Atrush oil field in the Kurdistan Region of Iraq.

In a statement on the Abu Dhabi Securities Exchange (ADX), the Company said Monday that this transaction remains subject to third-party approvals.

The disposal of interests will be through its wholly-owned subsidiary, TAQA International BV.

Covering 269 square kilometers, the field was first discovered in 2011, and oil production started in July 2017.

It is located 85 km northwest of Erbil, the capital of Kurdistan Region.

In its first two and a half years of production, the Atrush field has produced over 35.9 mboe/day with increasing efficiency.

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Saudi Industry Minister Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
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Saudi Industry Minister Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, held a series of bilateral meetings on Friday with leaders of several leading Danish companies in the industry and mining sectors. Discussions covered joint investment opportunities, as well as the enablers and incentives offered by the Kingdom to investors, the Saudi Press Agency reported.
The meetings focused on strengthening cooperation in the industrial and mining sectors between the two sides, with an emphasis on leveraging the strategic opportunities presented by the National Strategy for Industry across its 12 priority sectors that the Kingdom aims to localize and develop. This was discussed alongside the opportunities provided by the comprehensive mining strategy, in line with the objectives of Saudi Vision 2030.
Alkhorayef also met with executives from the pharmaceutical, food, and mining sectors, including FLSmidth, Danfoss, Novo Holdings, Novonesis, and Arla Foods.
The visit reflects Saudi Arabia’s continued efforts to deepen economic partnerships with leading industrial nations and attract global expertise to accelerate the growth and competitiveness of the Kingdom's industrial and mining sectors.