The Abu Dhabi National Energy Company (TAQA), which operates in 11 countries, announced its financial results and the most important operational achievements for the first half of 2017:
- Profits target achieved for the second quarter after completion the Strategic Transformation Program.
- Increase of the free cash flow by 33% within the first half of 2017 (1.7 Billion USD).
- Increase of 5% from the total revenue from the first half of 2016, which (2.5 Billion USD).
- Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 1.9 Billion USD with an increase of 15% compared to the first half of 2016.
- Net Income reached 30.5 Million USD with an increase of 33% compared to the first half of 2016.
The company’s operational achievements are as the following:
- Production volume of oil and gas reached 131,086 the barrel of oil equivalent (BOE) per day.
- Beginning of the production in “Atroch” oil field in Iraq by June and forecast to increase by 30 thousand barrels per day within 2017.
- International power generation by the company reaches 38,346 GWH.
- Power generation in the UAE by the company reaches 30,091 GWH.
