Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has hired advisors to exit all its oil and gas producing assets in Canada, sources told Reuters.
Selling fossil fuel assets is part of TAQA's objective to cut its carbon emissions and adopt a cleaner and more sustainable future.
The sources referred that TAQA is working with Tudor, Pickering, Holt & Co (TPH), and Jefferies to sell the assets and will make confidential presentations to interested parties in October as per a sale document reviewed by Reuters.
This step comes after the company had announced in early September a review of its oil and gas operations to evaluate strategic options regarding its assets across the UK North Sea, the Netherlands, Canada, and the Kurdistan Region of Iraq.
Noteworthy to mention, three sources told Reuters in August that TAQA was studying a deal to sell some light oil and natural gas-producing assets in Alberta and British Columbia to Blue Sky Resources.
