RWE Dea farm-in to production license on the Norwegian Continental Shelf

Oslo, (PresseBox) - RWE Dea Norge AS, a wholly-owned subsidiary of the German upstream company RWE Dea, has entered into an agreement with Wintershall Norge ASA to acquire 10 percent equity in production license (PL) 418 in the North Sea.

RWE Dea is thereby further strengthening its position in the northern North Sea, which is a core area for the company. RWE Dea operates the adjacent PL420, where the promising Titan discovery was made in 2010. RWE Dea is also a partner in the producing Gjøa field. The first well (35/9-7) in PL418 is located 14 kilometres southwest of the Gjøa field. The well will test the hydrocarbon potential of the Skarfjell prospect.

PL418, which was awarded in Awards in Predefined Areas (APA) 2006, is operated by Wintershall. "We are very pleased to have concluded this agreement with Wintershall and look forward to working with them as partner in this license. The agreement supports our goal, to sustain our presence near the North Sea Titan discovery in the Gjøa region", says Managing Director of RWE Dea Norge AS, Hans- Joachim Polk.

The farm-in is part of RWE Dea's strategy to have a balanced portfolio in its core areas in Norway. RWE Dea holds a broad license portfolio, including the operated discoveries Titan in the North Sea and Zidane in the Norwegian Sea. In 2012, RWE Dea Norge has been awarded seven new licenses, two of them as operator.

The farm-in agreement will be effective as of January 2012, subject to approval from Norwegian authorities.

RWE Dea Norge AS is a subsidiary of the German oil and gas company RWE Dea AG and has been present in Norway for almost 40 years. The company has ownership interests in several producing fields, such as Snorre, Gjøa and Snøhvit, and is participating in two of the most important recent discoveries on the Norwegian continental shelf, Luno and Knarr. RWE Dea Norge is operator of six licenses in the exploration phase, and on two of these licences, Zidane and Titan, discoveries were made in 2010.

Rwe Dea AG

RWE Dea AG, headquartered in Hamburg, is an international company operating in the field of exploration and production of natural gas and crude oil. The company deploys state-of-the-art drilling and production technologies, putting its many years' experience acquired to good use. RWE Dea has set new standards in the fields of safety and environmental protection.

RWE Dea has stakes in production facilities and concessions in Germany, the UK, Norway, Denmark and Egypt and holds exploration concessions in Algeria, Ireland, Libya, Mauretania, Poland, Trinidad & Tobago and Turkmenistan. Moreover, in Germany, RWE Dea also operates large subterranean storage facilities for natural gas. RWE Dea is part of the RWE Group, one of Europe's largest energy utilities.

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