TAQA appoints new MD for UK business

TAQA appoints Pete Jones as MD for UK oil & gas business

Leo Koot, managing director of TAQA?s UK oil and gas business.
Leo Koot, managing director of TAQA?s UK oil and gas business.

TAQA, the global energy company based in Abu Dhabi, has appointed Pete Jones to the position of managing director for TAQA’s UK oil and gas business. Jones will be based in Aberdeen and responsible for the company’s operations in the UK North Sea.

Jones succeeds Leo Koot who has been appointed Managing Director of TAQA in Iraq.

Koot will be responsible for all of TAQA’s operations in Iraq. Koot joined TAQA in 2008 and is a Dutch national.

David Cook, TAQA executive officer and Head of Oil and Gas, said: “Leo Koot has successfully built our UK business from scratch, and we are now a leading North Sea oil and gas operator. I am proud to have such a successful leader taking on the task of building our new operations in Iraq.”

“Pete Jones brings highly relevant skills and leadership experience to TAQA, where he will be leading the next phases in the evolution of TAQA’s North Sea business. We have already been successful in redevelopment of Northern North Sea assets and look forward to further expansion through exploration, development and the newly acquired BP assets.”

TAQA has oil and gas operations in North America, UK, the Netherlands and the Kurdistan region of Iraq and produced an average of 135 thousand barrels of oil equivalent per day in 2012.

The company recently announced a 6% drop in revenues due to a shut-in of Cormorant Alpha in January 2013 during a major inspection, repair and maintenance programme. “Profitability was consequently impacted, although in the comparable period in 2012 profitability was supported by the proceeds of disposals making direct comparison difficult,” said the company in a statement.

“The halting of production on the Cormorant Alpha platform was the right thing to do to ensure the safety and integrity of this critical piece of North Sea infrastructure,” said Carl Sheldon, chief executive officer of TAQA.

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