Abu Dhabi's TAQA to invest in WesternZagros

Abu Dhabi National Energy Co. PJSC (TAQA) will invest $46.6 million (Can.) in WesternZagros Resources Ltd., Calgary, which holds two production sharing contracts with Iraq’s Kurdistan Regional Government. Closing is expected by the end of October.

Alan Petzet

Oct. 17, 2011

WesternZagros said it is “excited about the opportunities we are pursuing in the next 12 months, including further appraisal of the Sarqala and Kurdamir discoveries, and exploration drilling at Mil Qasim.”

A representative from TAQA will join the board of WesternZagros, which will use proceeds towards its 2011-12 capital and operating program.

About the Author

Alan Petzet

Chief Editor Exploration

Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.

Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.