2010-09-15-2010-09-15-2010-09-15

Average daily production from Otter Field is approximately 8,000 barrels of oil per day.

Taqa Bratani Ltd., a subsidiary of The Abu Dhabi National Energy Co. PJSC (Taqa), Abu Dhabi, U.A.E., (Abu Dhabi: TAQA) plans to acquire 81% in production licenses for two blocks in Otter Field development area in the North Sea from Total SA, Paris (NYSE: TOT).

The assets include Total's entire equity stake in P.226 Block 210/15a and P.1021 Block 210/20d. Otter Field is 150 kilometers northeast of Shetland, U.K. in water depth of 182 meter. The field is adjacent to Taqa Bratani's existing North Sea interests and is a sub-sea tieback to the Taqa Bratani-operated Eider Platform.

Average daily production from Otter Field is approximately 8,000 barrels of oil per day. Oil is exported to the Sullom Voe oil terminal in Shetland via the Taqa Bratani-operated Brent system.

Taqa chief executive and managing director H.E. Abdulla Saif Al-Nuaimi says, "This transaction again underscores our long-term commitment to the North Sea. Since entering the North Sea, Taqa has gained first hand operational expertise of operating mature fields in the area and we are confident of the opportunity to optimize the asset efficiently."

Taqa Bratani managing director Leo Koot says, "Our investment in the North Sea demonstrates the potential we see to extend the productive life and commercial viability of mature oil and gas fields. This transaction is an excellent fit with our strategic objectives and again presents us with the opportunity to grow production and further develop the blocks."