Abu Dhabi: Edward LaFehr, the new Chief Operating Officer at Abu Dhabi National Energy Company, Taqa, has said that details of the new Taqa corporate structure are expected to be announced this month. LaFehr assumes command at Taqa, taking over as Chief Operating Officer from Carl Sheldon, who will step down after four years in the role.
Speaking on the occasion, LaFehr said, “Starting this month, we are starting up the Bergermeer gas storage facility in the Netherlands, and we’re bringing online the Jorf 5 and 6 expansion to the power business in Morocco. These are the kinds of projects that are distinctive in terms of Taqa generating stable cash flows and returns to our stakeholders, but that is just the near term.
“My action plan for the coming 100 days has already begun, with the safety of our Taqa family and extended workforce my top priority. I am also committed to simplifying and strengthening the organisation, and rebalancing our profitability and growth agenda which is about improving free cash flow and reducing debt leverage over time.”
LaFehr has 30 years’ experience in the energy industry to call on. Before joining Taqa, he spent three decades in the energy industry and has worked in a variety of locations in North America as well as Scotland, Egypt and Trinidad and Tobago.
Taqa’s operations are spread in more than 11 countries and cover oil and gas projects UK North Sea, the Netherlands and Iraq besides power generation operations in Morocco, Ghana, India, Oman, Saudi Arabia and the US, and it has a burgeoning power and water business in the UAE.