mean energy type state owned traded as adx taqa industry oil and gas exploration and production pipelines underground gas storage power generation and water desalination founded 2005 2005 headquarters abu dhabi united arab emirates number of locations canada ghana india iraq morocco oman saudi arabia the united arab emirates netherlands united kingdom and united states owner government of abu dhabi number of employees 2 800 aug 2011 subsidiaries taqa north taqa bratani website www.taqaglobal.com the abu dhabi national energy company pjsc taqa adx taqa is a government controlled energy holding company of abu dhabi united arab emirates . taqa is one of abu dhabi s flagship companies 1 and as such has an important role to play in helping to deliver the economic strategy of the emirate of abu dhabi . 2 contents 1 history 2 operations 3 shareholders 4 finance 5 see also 6 references 7 external links history edit taqa was founded in june 2005 pursuant to the provisions of emiri decree in 2005 as a public joint stock company . in may 2006 taqa appointed mr. peter e. barker homek an american businessman as its first ceo . taqa expanded quickly under the guidance of mr. barker homek making several key acquisitions in africa and north america . 3 in canada taqa acquired northrock resources ltd. us 2 billion 4 pioneer natural resources canada inc us 540 million 5 and primewest energy trust us 5 billion . 6 in 2008 taqa acquired several north sea assets from shell u.k. limited and esso exploration and production uk limited . the purchase included all equity associated infrastructure and production licenses relating to the tern eider cormorant north south cormorant kestrel and pelican fields and related sub sea satellite fields . 7 in late 2009 mr barker homek relinquished his position as ceo and was replaced by carl sheldon . in 2014 carl sheldon left the company and handed over his responsibilities to edward lafehr who took on the newly created role of chief operating officer . mr. lafehr was previously president of taqa s north america business . 8 operations edit taqa s main focus of investments is the companies engaged in power generation water desalination and production and storage of oil and gas . in addition it has invested in mining metal and services sectors . 9 taqa has investments in over 60 companies . its principal wholly owned subsidiaries include emirates power company gulf power company arabian united power company al shuweihat power company taweelah united power company union power holding company taqa bratani limited taqa energy b.v. taqa north ltd. and takoradi international company operator of the takoradi power station ii . taqa owns majority stakes in assets that provide about 85 % of abu dhabi s power generation and 90 % of its water desalination capacity . 10 in addition to the persian gulf region taqa has assets in europe asia and africa . it has interests in the tern alpha eider alpha cormorant north cormorant alpha kestrel and pelican fields and related sub sea satellite fields in the north sea . 7 on 3 august 2009 taqa took over operatorship of the north sea brent oil pipelines system . 11 12 in addition in 2006 taqa acquired bp nederland energie b.v. through this acquisition taqa get onshore and off shore production assets including the piek gas installatie facility in alkmaar the project of the largest offshore lng regas facilities utilizing the depleted field p15 p18 just off the port of rotterdam and partnership in the bergermeer gas storage project . 13 14 in august 2009 it bought a 15 % interest in north sea assets from the l11b group took over the operatorship of the l11b a production platform . 15 through the acquisition of cms generation taqa has assets in the uae ghana morocco saudi arabia and india . 16 taqa holds a majority share and is operator of the atrush block in the kurdistan region of iraq . initial production is expected to be approximately 30 000 barrels of oil equivalent per day . 17 taqa acquired the interest from an affiliate of aspect holdings in 2012 . 18 on january 3 2013 taqa signed an agreement with turkey to invest about 12 billion to develop the coal fields in the southern turkey . this deal is considered as the second biggest arab investment in turkey in the energy sector . 19 in august 2013 taqa said it would delay the planned investment amid difficult financing conditions at a time of currency volatility in emerging markets including turkey . 20 shareholders edit taqa is listed on the abu dhabi securities exchange . 9 the company is 75.1 % indirectly owned by the government of abu dhabi . the government of abu dhabi through adwea owns 51 % adwea transferred 24.1 % of its shareholding to the fund for the support of farm owners in the emirate of abu dhabi.shareholders the balance 24.9 % is traded publicly on the abu dhabi securities market . finance edit standard & poor s has assigned a a 1 corporate credit ratings to taqa . 10 moody s has assigned a rating of aa3 to taqa s long term foreign and local currency obligations . 21 see also edit emiratisation economy of the united arab emirates references edit http www.insight publications.com morocco 08 morocco 08.pdf blowing in the wind pdf thoroughly modern morocco 9 october 2008 http www.insight publications.com morocco 08 morocco 08.pdf http tdw.globeinvestor.com servlet articlenews print rtgam 20070928 wdecision0929 http www.ameinfo.com 121764.html http phx.corporate ir.net phoenix.zhtml c 90959 & p irol newsarticle & id 1043122 & highlight abu dhabi company buys primewest energy trust for 5b . cbc news . 24 september 2007 . a b abu dhabi national energy company pjsc taqa agrees to purchase north sea assets from shell u.k. ltd and esso exploration and production u.k. ltd . al bawaba . 2008 07 07 . retrieved 2009 03 21 . http www.taqaglobal.com media centre press releases 2014 26 02 2014 sc lang en a b abu dhabi national energy company may invest in joint development with india s infrastructure leasing & financial services ltd. . al bawaba . 2006 11 26 . retrieved 2009 03 21 . a b infrastructure investor abu dhabi national energy company pjsc rated a a 1 ; outlook stable . ame info fz llc . 2006 10 11 . retrieved 2009 03 21 . taqa takes brent pipe reins . upstream online . nhst media group . 3 august 2009 . retrieved 6 august 2009 . christopher johnson barbara lewis 3 august 2009 . abu dhabi firm says becomes n. sea brent operator . reuters . retrieved 6 august 2009 . abu dhabi national energy company assumes operation of bp netherlands gas exploration and production business . al bawaba . 2007 02 04 . retrieved 2009 03 21 . taqa and gazprom export sign mou to partner on dutch bergermeer gas storage . zawya . 2008 12 05 . retrieved 2009 03 21 . taqa snaps up north sea slice . upstream online . nhst media group . 4 august 2009 . retrieved 6 august 2009 . tico shares take over done deal . business week . 2007 04 15 . retrieved 2011 02 12 . http www.taqaglobal.com our regions iraq overview sc lang en http www.taqaglobal.com media centre press releases 2012 30 11 2012 sc lang en economic times . turkey inks 12 billion energy project with uae . http www.arabianbusiness.com qatar japan consortium study projects in turkey 583010.html moody s rates abu dhabi national energy company s bonds p aa3 . ame info fz llc . 2006 10 18 . retrieved 2009 03 21 . external links edit company website retrieved from https en.wikipedia.org w index.php title taqa & oldid 724202232 categories companies listed on the abu dhabi securities marketpower companies of the united arab emiratesoil and gas companies of the united arab emiratescompanies based in abu dhabihidden categories use dmy dates from march 2016 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store 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