The Otter field, which produces approximately 8,000 barrels of oil per day, lies adjacent to Taqa’s existing North Sea interests and is a sub-sea tieback to the Taqa operated Eider Platform.
Taqa managing director Leo Koot said that the company’s investment in the North Sea demonstrates the potential 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," Koot said.
Taqa purchased its existing assets in the North Sea from Royal Dutch Shell and Exxon Mobil in 2008.
