Abu Dhabi National Energy Co. (Taqa) told investors Wednesday that it plans capital spending of $1.4 billion this year on its oil and gas assets in North America, the UK and the Netherlands, 70% up on last year. It expects output to average 135,000 boe-146,000 boe/d, versus 135,000 boe/d for the past two years (IOD Mar.18,p7). An expected decline in the Netherlands to 6,000 boe-8,000 boe/d from last year's 9,000 boe/d will be offset by increases in North America and the UK. The company said it expects output in North America to rise to 41,000 boe-43,000 boe/d from 37,000 boe/d last year and in the UK to 41,000 boe-43,000 boe/d from 37,000 boe/d.
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