How much are the company's assets in Canada?
Analysts: about $1.8 billion.
What are the reasons for selling its assets in Canada?
High production costs and scarcity of capital.
Abu Dhabi National Energy Company "TAQA" has decided to assign its advisors to sell all of its oil and gas-producing assets in Canada as part of efforts to reduce the company's carbon footprint.
And the agency quoted "Reuters", today, Wednesday, September 29, according to analysts in "IHS Market" that these assets may be worth about 1.5 billion Canadian dollars ($ 1.8 billion).
The state-owned company's decision to fully exit Canada comes after it announced a review of its offshore and onshore oil and gas assets this month.
Owned by the Abu Dhabi government-owned holding company, TAQA has a portfolio of North Sea energy assets in the UK, the Netherlands, Canada and Iraqi Kurdistan.
TAQA's portfolio includes onshore and offshore exploration activities, development and production of crude oil, natural gas and natural gas liquids, gas storage and oil and gas processing and transportation.
It is worth noting that the company revealed, last August, that it was approaching a deal to sell its Canadian assets to Blue Sky Resources, explaining that it had reached an agreement to sell some assets producing light oil and natural gas in the provinces of Alberta and British Columbia, and that the deal is awaiting approval by the Alberta Council. for energy.
In recent years, a number of major international oil companies have rushed to sell assets in the Canadian oil sands, due to concerns ranging from rising production costs to emissions and a scarcity of capital.
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