TAQA Gets Approval for Morrone UK North Sea Field Development

Abu Dhabi National Energy Co, or TAQA has received approval from the UK government to develop the Morrone field in the Central North Sea, it said on Monday.

United Arab Emirates-based TAQA expects to start production in the third quarter of 2014, with initial production of over 3,000 barrels of oil equivalent per day (boepd).

"Reaching this milestone so quickly is due to an intense effort by TAQA's subsurface and wells teams, close collaboration with our partners, and a smooth transition of operatorship of the field from BP in June 2013," Pete Jones, Managing Director of TAQA's UK business, said in a statement.

TAQA holds a 70 percent interest in Morrone, with Maersk Oil North Sea UK Limited holding 30 percent.