The Abu Dhabi National Energy Company (Taqa) has acquired four exploration blocks in the UK region of the North Sea.
Taqa has bought the blocks from Exxon Mobil and Shell near assets it acquired from the two companies last year, upstreamonline.com has reported.
The purchase includes blocks 210/25a, 211/21a3, 211/16c and 210/20f, and drilling is expected to commence in 2010.
The output from the blocks may be tied back to infrastructure in the Tern and Kestrel oilfields, the news service said.
As part of the company’s global expansion, investments of more than $2bn have gone into North Sea assets in the past three years.