ABU DHABI, United Arab Emirates and CALGARY, Alberta, Aug. 8, 2008 (PRIME NEWSWIRE) -- The Abu Dhabi National Energy Company PJSC ('TAQA') announced today that Frederic Lesage has been appointed to serve as Managing Director, TAQA NORTH upon Tim Granger's elective departure, effective September 30th, 2008.
Mr. Lesage possesses over 17 years of experience working with blue chip companies and most recently served TAQA in the role of GVP, Integration & Optimization.
Prior to joining TAQA, Mr. Lesage worked as a Senior Consultant for McKinsey & Company after practicing law for several years at a leading Canadian law firm, where he specialized in Labor and Employment Law. He holds a law degree from Universite de Montreal and a Master of Business Administration with distinction from the Richard Ivey School of Business at the University of Western Ontario.
Peter Barker-Homek, CEO of TAQA said, "Fred is eager to deliver on TAQA's ambition to be one of the 'Best 100 Global Companies to Work For'. Fred and his expanded leadership team will develop TAQA NORTH as an E&P company that can increase production, reliably replace reserves, and is a vibrant meritocracy and solid corporate citizen."
"Fred will continue to work closely with the TAQA NORTH management team as well as corporate headquarters to ensure connectivity across all of TAQA's business sectors."
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About Abu Dhabi National Energy Company PJSC (TAQA)
Abu Dhabi National Energy Company PJSC (TAQA) is a global energy company with worldwide operations in power generation, desalinization, upstream oil/gas, pipelines, and gas storage. TAQA was founded in Abu Dhabi in 2005 and is listed on the Abu Dhabi Stock Exchange. TAQA possesses in excess of AED 56 billion in assets, with FY 2006 turnover of more than AED3.3 billion.
TAQA operates from its offices in Abu Dhabi, UAE; Ann Arbor, Michigan; Aberdeen, Scotland; Amsterdam, Netherlands; Calgary and The Hague with alliance partners across the Gulf, Middle East, North Africa, Europe, India, Canada, and the United States.
TAQA NORTH Ltd. is a Calgary-based oil and gas exploration company with operations in Northern Alberta and British Columbia; West Central and Southern Alberta; Southwest Saskatchewan; Southeast Saskatchewan; and the Northwest Territories. TAQA NORTH Ltd.'s proven plus probable reserves are in excess of 480 MMBOE and current production is approximately 105,000 BOE per day, making it one of the top 12 oil and gas producers in Canada.
TAQA carries Aa2 and AA- credit ratings from Moody's and S&P, respectively.