Taqa share of decommissioning Brae Area up $352m after Fujairah default

Taqa’s share of the decommissioning bill for the Greater Brae Area (GBA) has increased by more than $350 million after a licence partner defaulted on its liability.

It follows the recent decision by the industry regulator to green light the transfer of Fujairah Oil and Gas’ stake in the GBA to the remaining joint venture partners.

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