Waldorf to acquire Dana, TAQA Dutch upstream businesses

Waldorf Energy Netherlands BV, a subsidiary of Waldorf Production Ltd., has entered separate agreements to acquire the respective Netherlands upstream businesses of Dana Petroleum Ltd., a wholly owned subsidiary of Korea National Oil Corp., and TAQA Energy BV, a wholly owned subsidiary of Abu Dhabi National Energy Co.

Neither financial terms nor asset specifics were disclosed. According to Dana Petroleum’s website, the company’s upstream business in the Netherlands includes interests in 21 oil and gas fields including De Ruyter, Hanze, Van Ghent, and Van Nes fields, one exploration license, two potential developments in Denmark, and two in the Netherlands.

TAQA, according to its website, has been extracting natural gas fields in the onshore Bergen II production license around Alkmaar, the Netherlands, since 1972. Gas is transported to TAQA’s gas treatment installation at Oude Helderseweg. Gas extraction from the fields has entered the final phase, according to the site.

Closing of the transaction remains subject to final regulatory and other third-party approvals.