TENC-CA UK North Sea Sale and Transfer Completed
Shell U.K. Limited (Shell), Esso Exploration and Production UK Limited, (ExxonMobil), Mobil North Sea LLC (ExxonMobil) and Enterprise Oil U.K. Limited (Shell) yesterday (1st December 2008) completed the final sale and transfer of a number of northern North Sea assets to TAQA Bratani Limited, a wholly owned subsidiary of Abu Dhabi National Energy Company PJSC (TAQA).
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 on 7th July 2008.
TAQA has appointed John Wood Group PLC (Wood Group) as their initial operating and maintenance contractor and initial Duty Holder.
A total of 133 Shell staff transferred employment to TAQA Bratani Limited in accordance with the Transfer of Undertakings (Protection of Employment) Regulations (TUPE) as of 1st December 2008.
Posted 02/12/08
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