News

New partnership structure in the Norwegian licence PL 435 is officially in place. DEA Norge has now a 55 per cent share as an operator in the Dvalin licence. Partners are Petoro with a 35 per cent share, and Edison Norge with a 10 per cent share.

DEA strengthens the company’s position in Norway by acquiring participating interest in seven licences in the Njord area in the Norwegian Sea, including 20% increased interest in the Njord field, from Engie E&P; Norge AS.

DEA presented its 2016 9 Months Results on 10.11.2016.

A live audiocast presentation will be held on Thursday November 10th 2016 at 14.00 Central European Time (CET), following the release of the financial statements for the third quarter 2016.

DEA Deutsche Erdoel AG (the “Company”), a wholly-owned subsidiary of L1E Finance GmbH & Co KG (the “Parent”), announced today that DEA Finance SA, a wholly-owned subsidiary of the Parent, has successfully closed its offering of 7 ½% senior notes due 2022 in an aggregate principal amount of €400 million (the “Notes”).

The Plan for Development and Operation (PDO) for the Dvalin field (previously named Zidane) has been handed over to the Ministry of Petroleum and Energy in Norway by operator DEA. Dvalin will be the company’s first operated field development project in Norway.

The drilling of the re-entry of appraisal well 7220/11-3 A (Alta-3) on the eastern flank of the Alta discovery in PL609 has been successfully completed. Production and injection tests proved good to very good reservoir quality. DEA Norge is partner in PL609, with a share of 30%.

DEA Deutsche Erdoel AG (the “Company”), a wholly-owned subsidiary of L1E Finance GmbH & Co KG (the “Parent”), announced today that DEA Finance SA, a wholly-owned subsidiary of the Parent, has launched an offering of senior notes in an aggregate principal amount of €400 million (the “Notes”).

How the principles of sustainability are reflected in the business activities of DEA Deutsche Erdoel AG is documented in the current sustainability report with a comprehensive overview of DEA’s fields of action including occupational health and safety, environmental protection, employees, corporate citizenship and management systems.

For further information on the rating please refer to Fitch.