News

DEA Deutsche Erdoel AG acquires 100% of the shares of E.ON’s Norwegian oil and gas business to create an enlarged Norwegian portfolio more than doubling its current production in Norway to 75,000 barrels of oil equivalent per day (boe/d). This acquisition also provides access to promising growth options through material development and exploration.

DEA Deutsche Erdoel AG confirms the sale of its UK oil and gas assets to INEOS. Both companies have reached an agreement for the sale DEA’s UK activities.

DEA Deutsche Erdoel AG announces the appointment of Andreas J. Goss, Alf Henryk Wulf, and Dr Jan Konerding as members of its supervisory board. They are replacing Dmitry Avdeev, Jonathan Muir, and John Christopher Smith, who were interim appointments.

DEA published this year for the first time the company's own HSE program to inform partners and the interested public about the activities in the areas of occupational safety, health and environmental protection.

Drilling of delineation well 7220/11-2 and side track 7220/11-2 A on the Alta discovery in production license (PL) 609 in the Barents Sea has been successfully completed. Drilling location is approximately 6.5 km south west of the Alta discovery well, and some 160 km from the Norwegian coastline.

DEA Deutsche Erdoel AG has equalized its working interest and farmed down its stake in the West Nile Delta (WND) project in Egypt to its Joint Venture partner and operator BP in order to better balance its portfolio. The deal includes the sale of a portion of DEA’s stake in the ongoing Phase 1 development of five trillion cubic feet of gas resources. With the remaining interest of 17.25% in both concessions, WND will remain the largest project in DEA’s portfolio. The closing of this agreement is subject to approval of the Egyptian General Petroleum Corporation (EGPC).

The Knarr oil and gas field went into production 16 March. The discovery was made in 2008, two years after the license was awarded. The field has gross recoverable reserves of around 80 million barrels of oil equivalents. DEA Norge, the Norwegian subsidiary of DEA Deutsche Erdoel AG, is partner in the license.

DEA Deutsche Erdoel AG is pleased to contribute significantly to Egypt’s security of energy supply. The final agreements to develop 5 trillion cubic feet of gas resources had been signed. The West Nile Delta development is considered as of prime importance for Egypt’s energy sector and is currently the largest project in DEA’s Portfolio.

After the acquisition by LetterOne, the Hamburg based upstream company RWE Dea has a new owner, a new supervisory board and gets a new name. LetterOne is a privately owned Luxembourg-based global investment vehicle focused on utilizing its financial resources, management and investment expertise.