- 09 Aug 2017
TAQA announces First Half 2017 Financial Results
10 August 2017ABU DHABI, United Arab Emirates – Abu Dhabi National Energy Company PJSC (TAQA), a leading global energy company headquartered in Abu Dhabi with operations in 11 countries, today announced its financial results and operational highlights for the period ended 30 June 2017.Commenting on the results, Saeed Hamad Al Dhaheri, acting Chief Operating Officer, said: “TAQA’s results for the first half of 2017, which demonstrated a positive net income for the second consecutive quarter, were driven by strong operational performance, continued efficiency improvements and a focus on core operations. A key operational milestone was the achievement of first oil from our Atrush project in the Kurdistan Region of Iraq post period in July. Atrush will be a significant contributor to the Group’s long-term cash flows and net income. Against the backdrop of a prolonged lower oil and gas price environment, TAQA will continue to concentrate on safe and efficient operations while looking for opportunities to optimise our portfolio.”Financial highlights:Operational Highlights: Power & WaterOperational Highlights: Oil & Gas.