Taqa Signs a Letter of Intent with Kuwait Energy for Joint Upstream Oil and Gas Projects

摘要

Abu Dhabi National Energy Company (Taqa) has signed a letter of intent with Kuwait Energy Company (KEC) for the purpose of looking for joint investment opportunities in the oil and gas sectors in Egypt, Oman, Yemen, Syria, Iraq, Kazakhstan and Iran. Under this agreement, the two companies aim to build up a portfolio focused on mature hydrocarbon production, development and exploration assets, according to Taqa. The UAE-based company adds that this letter of intent does not involve any financial commitments at this stage. Taqa is a state enterprise owned by the emirate of Abu Dhabi, while KEC is a private Kuwaiti firm with interests in exploration, development and production in the following countries: Egypt, Oman, Yemen, Pakistan, Russia, Cambodia and Indonesia.