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10.07.2018

New General Manager for DEA Egypt Sameh Sabry will succeed Thomas Radwitz

DEA Deutsche Erdoel AG has named Sameh Sabry as the new General Manager of DEA Egypt. He will take over the responsibilities as of 1 August 2018. On the occasion of the hand over, CEO Maria Moraeus Hanssen participated in the farewell reception for Thomas Radwitz who had been General Manager for nearly three years.

Sameh Sabry, General Manager of DEA Egypt

Sameh Sabry joined DEA Deutsche Erdoel AG ten years ago and had been assuming different managerial roles mainly in North Africa and Europe. He gained experience in leading positions such as the General Manager of DEA’s branch in Algeria or as deputy of the General Manager of DEA Egypt branch for extended periods of time. Mr Sabry is an engineer with an MBA degree.

DEA CEO Maria Moraeus Hanssen

In her speech during the hand over reception, Maria Moraeus Hanssen highlighted the qualification of Sameh Sabry: “He knows DEA Egypt by heart, is well connected, and respected and starts his new job with great competence and a strong DEA spirit.” Sameh Sabry, the future General Manager of DEA Egypt says: “I am looking forward to DEA’s upcoming tasks in Egypt. One of my priorities will be to execute our existing projects in the country in order to deliver sustainable growth.”

Thomas Radwitz will be assigned Board Advisor in DEA’s headoffice in Hamburg. Maria Moraeus Hanssen thanked Thomas Radwitz for his achievements: “During his assignment, DEA made lots of progress in a time when Egypt is getting ready to become a regional energy hub.”

During his latest tenure in Egypt, Thomas Radwitz had supported the advanced project implementation of the West Nile Delta Project in conjunction with BP as operator. He had conducted all the negotiations on the extension of DEA’s Gulf of Suez assets and stabilized production in Disouq. He had been the driving force of the Disouq phase B project in order to expand gas production in the near future.

Maria Moraeus Hanssen mentioned that Thomas Radwitz is one of the most experienced managers in DEA with a broad regional spectrum of international assignments in the U.S., Germany, Libya, Turkmenistan, the United Kingdom and many years in Egypt.

During her third visit to Egypt within six months after joining DEA as CEO, Maria Moraeus Hanssen met with the Petroleum Minister Tarek El-Molla to reinforce DEA’s continued commitment to Egypt. She pointed out, that within the coming two years, DEA is targeting to double its production levels through an investment program that exceeds 500 million US dollars. Ambitious work programs for the Gulf of Suez and Disouq assets are currently under execution. Investments in the Gulf of Suez asset has already led to significant production increase. In respect to further plans, the CEO renewed DEA’s interest to look into further opportunities like exploration licenses. DEA is currently evaluating the blocks offered in EGAS’ latest bid round.

Further information

Olaf Mager
Head of External Communications
T +49 40 6375 2877
M +49 162 273 2877

Frank Meyer
Manager External Communications
T +49 40 6375 2759
M +49 162 273 2559

Background information

DEA Deutsche Erdoel AG is an international operator in the field of exploration and production of crude oil and natural gas based in Hamburg. Its focus is on safe, sustainable and environmental conscious exploitation of oil and gas. DEA has 119 years of experience working along the whole upstream value-chain as operator or project partner. With a staff force of 1,150 employees DEA has shares in production facilities and concessions in, among others, Germany, Norway, Denmark, Egypt, Algeria and Mexico.

Forward-looking statements

This communication may include projections and other “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, no reliance should be placed on any of these forward-looking statements.

Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, those set out in our most recent annual report, available on our website at www.dea-group.com/en/investors. Any forward-looking statement made in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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