Press releases & news

The acquisition of 100% of the shares of Sierra Oil & Gas by DEA Deutsche Erdoel AG was completed on the 19th of March. With the deal, DEA enhances its presence in Mexico and its long-term commitment to the country’s oil and gas industry. Mexico’s National Hydrocarbons Commission (CNH) and the Federal Economic Competition Commission (COFECE) have approved the transaction.

DEA has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez. At a formal ceremony event, witnessed by H.E. Eng. Tarek El-Molla the Egyptian Minister of Petroleum and Mineral Resources, DEA’s General Manager Sameh Sabry signed the new concession agreement. The new agreement extends the concession for five years ending mid-2022. It includes an optional extension of another five years until 2027, subject to mutual agreement.

The Field Development Plan for DEA’s operated oil field Ogarrio Onshore Mexico has been approved by the National Hydrocarbons Commission (CNH).

The merger of the longstanding German companies Wintershall and DEA is progressing. So far, the companies have applied for all relevant governmental approvals and aim for closing during the first half of 2019. The merger will make Wintershall DEA the largest independent gas and oil company in Europe.

The Egyptian Natural Gas Holding Company (EGAS) has awarded one new licence to DEA in its 2018 Bid Round. The East Damanhour exploration block (originally offered as Block 10) is covering 1,418 square kilometres and is located west of the Disouq development leases, where DEA is the operator with a licence share of 100%.

DEA and operator BP commenced production from additional two West Nile Delta (WND) gas fields, Giza and Fayoum. Gas is flowing ashore from the recently completed eight wells through new subsea infrastructure and pipelines. The West Nile Delta development has reached first gas from the two fields on schedule and below budget. Giza and Fayoum will initially produce around 400 million cubic feet of gas per day (mmscfd) and are expected to ramp up to a maximum rate of approximately 700 mmscfd.

The phase out plan of the coal commission is a positive step towards achieving Germany’s climate targets. At the same time, the plan shaped the structural changes in the affected regions. Natural gas produced in Germany and imported from Russia, Norway, the Netherlands and North Africa is available as a substitute for coal-fired electricity.

New promising exploration licenses awarded in the 2018 APA round expand DEA’s portfolio.

The oil and gas production company DEA Deutsche Erdoel AG turned 120 years today. DEA is one of the most long-standing E & P companies in the world and was one of the first players at the dawn of the commercial oil production era. In Germany, DEA has provided important economic stimulus and made a significant contribution to the domestic energy supply.