2005 CE
TAQA Established
Abu Dhabi National Energy Company (TAQA) is established by the Government of Abu Dhabi to consolidate state-owned energy assets. #energy #UAE
Chronological Storyline (32 Milestones)
Jun 1, 2006 CE
TAQA Listed on ADX
TAQA holds an initial public offering and lists on the Abu Dhabi Securities Exchange, raising $1.5 billion. #IPO #ADX
2007 CE
Entry into North Sea
TAQA enters the North Sea through the acquisition of assets from BP, including the Brae field. #NorthSea #oil
2007 CE
First International Acquisition
TAQA acquires a 49% stake in the Canadian oil and gas company PrimeWest Energy, marking its first international expansion. #acquisition #Canada
2008 CE
Acquisition of Canadian Oil Sands Assets
TAQA acquires interests in Canadian oil sands from Shell, expanding its heavy oil portfolio. #oilsands #Canada
2009 CE
Ghana Offshore Acquisition
TAQA acquires a 10% stake in the Jubilee field offshore Ghana, its first entry into Africa. #Ghana #oil
2010 CE
TAQA Completes Mirfa Power Plant
TAQA completes the Mirfa independent water and power plant in Abu Dhabi, boosting its power generation capacity. #power #water #UAE
Mar 1, 2011 CE
Appointment of CEO Carl Sheldon
Carl Sheldon is appointed CEO, leading the company through a period of global expansion. #leadership #CEO
2011 CE
Acquisition of North Sea Assets from Eni
TAQA acquires oil and gas assets in the North Sea from Eni, strengthening its European presence. #NorthSea #acquisition
2012 CE
TAQA Launches Sustainability Report
TAQA publishes its first sustainability report, outlining environmental and social commitments. #sustainability #ESG
2013 CE
Acquisition of SWS Oil and Gas
TAQA acquires SWS Oil and Gas for $1.4 billion, adding assets in the UK North Sea. #acquisition #UK
2014 CE
Divestment of Canadian Oil Sands
TAQA sells its remaining Canadian oil sands assets as part of a strategic review. #divestment #strategy
2015 CE
TAQA Issues $1.75 Billion Bond
TAQA issues a $1.75 billion senior unsecured bond to refinance debt and fund growth. #bond #finance
2016 CE
Shah Gas Field Development
TAQA partners with ADNOC to develop the Shah Gas field, a major project to produce sour gas. #gas #UAE
2017 CE
Entry into Iraq
TAQA acquires a minority stake in the Tawke field in Iraqi Kurdistan, expanding into the Middle East. #Iraq #oil
2017 CE
Leadership Change: CEO Rashid Al Mazroui
Rashid Al Mazroui becomes CEO, succeeding Carl Sheldon. #leadership #CEO
2018 CE
TAQA Completes Acquisition of AMP Netherlands
TAQA acquires the Netherlands-based oil and gas company AMP, adding North Sea assets. #Netherlands #acquisition
2018 CE
Issuance of Green Bond
TAQA issues its first green bond, raising $1 billion for renewable energy and efficient projects. #greenbond #renewable
2019 CE
Acquisition of Eni's North Sea Assets
TAQA acquires additional North Sea assets from Eni for $1.2 billion, consolidating its position. #NorthSea #acquisition
2020 CE
Impact of COVID-19 Oil Price Crisis
TAQA reduces capital expenditure and cuts jobs in response to low oil prices caused by the pandemic. #COVID19 #oil
Mar 1, 2021 CE
CEO Appointment: Farid Al Awlaqi
Farid Al Awlaqi is appointed CEO, succeeding Rashid Al Mazroui, with a focus on energy transition. #leadership #CEO
2021 CE
Acquisition of PTTEP's North Sea Assets
TAQA acquires PTTEP's North Sea assets for $1 billion, enhancing its UK portfolio. #acquisition #NorthSea
2021 CE
TAQA and ADNOC Form Joint Venture for Water
TAQA and ADNOC form a joint venture to manage and operate Abu Dhabi's water desalination plants. #water #JV
2022 CE
Green Bond Issuance of $1.5 Billion
TAQA issues a $1.5 billion green bond to fund renewable energy projects and decarbonization. #greenbond #ESG
2022 CE
TAQA Acquires Stake in Masdar
TAQA acquires a 17% stake in renewable energy company Masdar, aligning with UAE's clean energy goals. #renewable #Masdar
2022 CE
TAQA Divests From Ghana's Jubilee Field
TAQA sells its 10% stake in the Jubilee field in Ghana as part of portfolio optimization. #divestment #Ghana
2023 CE
Record Annual Profit
TAQA reports a record net profit of $2.1 billion for 2022, driven by high oil prices and strong operations. #profit #financials
2023 CE
Partnership with TotalEnergies for Offshore Wind
TAQA partners with TotalEnergies to develop offshore wind projects in the UAE and internationally. #offshorewind #partnership
2023 CE
Acquisition of BP's North Sea Gas Assets
TAQA acquires BP's North Sea gas assets for $1.5 billion, boosting its gas portfolio. #acquisition #gas
2024 CE
Launch of Renewable Energy Division
TAQA launches a dedicated renewable energy division to accelerate investments in solar, wind, and hydrogen. #renewable #strategy
2024 CE
First Hydrogen Project Deal
TAQA signs a deal to develop a green hydrogen project in Abu Dhabi with a capacity of 200 MW. #hydrogen #cleanenergy
2025 CE
TAQA Rebrands to TAQA Group
TAQA rebrands as TAQA Group to reflect its diversified energy portfolio and global reach. #rebrand #corporate