PARTNERS in the Taqa-operated Greater Brae Area in the UK North Sea could face significant extra costs amid claims that another co-venturer-understood to be Fujairah International Oil & Gas-has defaulted under the terms of its licence after paying just $1 for its stake last year. Operator Taqa and other Brae Area partners JX Nippon and Spirit Energy all recently reported in their UK accounts that a partner had fallen into default under the terms of a licence, although none have identified the partner or the licence. Multiple industry sources consulted by Upstream this week named the partner in question as being Fujairah International Oil & Gas, which is 100% owned by the government of the emirate of Fujairiah in the United Arab Emirates.
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