Position: CEO, Taqa
Biography: After several challenging years in which Abu Dhabi National Energy Company (Taqa) has been embroiled in corruption allegations and seen three new CEOs, 2012 ended on a good note for the firm, with the acquisition of assets in the UK and Iraq. It marks the continued development of a regional energy company into an international player.
In November 2012, Taqa paid the UK’s BP more than $1bn for some of its North Sea assets, increasing its oil production by about 50 per cent. This was followed with an agreement in December to acquire a 53.2 per cent stake in the Atrush block in Kurdistan, and adds to assets already owned in North America, the UK and the Netherlands.
In the power sector, Taqa has assets in Morocco, Ghana, India, Saudi Arabia, Oman, Iraq and the US. Further growth is planned in 2013, particularly in light of the deal signed with Ankara in October 2012 over investment in the power generation and mining sectors in southern Turkey.