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Rwe Dea Ag News

03 Mar 2015

Former BP Boss Browne is DEA Chairman

FRANKFURT, March 3 (Reuters) - DEA, the oil and gas company that German utility RWE sold to Russian billionaire Mikhail Fridman, has appointed former BP boss John Browne as its new supervisory board chairman. Fridman's investment vehicle LetterOne bought the firm from RWE in a 5.1 billion euro ($5.7 billion) deal finalised on Monday, brushing aside British opposition against the sale of some licences held by DEA in the North Sea. The transaction was first announced a year ago, coinciding with Western sanctions imposed on Russia over the Ukraine crisis, sparking concern in some EU countries about whether a European oil and gas business should fall into Russian hands.

27 Aug 2014

RWE Dea Starts Gas Production in Egypt

RWE Dea achieved first production from the Central Treatment Plant (CTP) of the Disouq Development Project in Egypt. Production commenced at an initial rate of 45 million standard cubic feet gas per day. Total production of 150 million standard cubic feet gas per day from the Disouq project has been achieved already. RWE Dea’s oil and gas production in Egypt will be boosted by 50 percent. Further increase in production is expected in 2015. Production from the CTP commenced at an initial rate of 45 million standard cubic feet gas per day. RWE Dea ramped up production progressively during the last few days to reach a rate of around 90 million standard cubic feet gas per day.

24 Jun 2014

Spain Gives Go-ahead to Canary Islands Drilling

Spain's Supreme Court approved on Tuesday a $7-billion oil exploration project off the Canary Islands, clearing one of the final hurdles for oil company Repsol to begin drilling within months. In 2012, Spain's government granted permits for hydrocarbon exploration off the coasts of the Fuerteventura and Lanzarote islands, but they were frozen while courts decided on a number of appeals on environmental grounds. Of the seven appeals against drilling rejected by the Supreme Court, one was from the local Canary Island government, which initially supported the project but then turned against it. Repsol, which leads a consortium including Australia's Woodside Petroleum Ltd and Germany's RWE Dea AG…

28 May 2014

RWE Dea's 'The Breagh Story' Wins Film Awards In Houston, Hamburg

At the WorldFest 2014 International Film Festival in Houston, RWE Dea won the platinum award in the documentary category with “The Breagh Story”. The film also won the silver award in the energy category at this year’s WorldMedia Festival held in Hamburg. The documentary tells the story of one of RWE Dea’s largest projects – from the exploration of the Breagh gas discovery and the installation of the production platform, all the way through to first gas produced in October 2013. “Breagh was one of the most demanding projects ever undertaken by RWE Dea, both in terms of its timeline and because of the engineering challenges involved,” explained Rene Pawel, Senior Vice President Production Europe RWE Dea AG.

18 May 2014

Algerian Reggane Nord Gas Project entering execution phase

A project consortium that includes RWE Dea has signed a major contract for the construction of a natural gas processing plant and infrastructure in the Algerian Sahara for the Reggane Nord project. The contract is valued at US$976 million and represents an important step forward for the project. Representatives of the Groupement Reggane of which RWE Dea is a partner signed the contract to construct the natural gas processing facilities and corresponding infrastructure including the gathering network and export pipeline on Thursday. The USDollar976 million contract was awarded to Petrofac International (UAE) LLC and stipulates completion of the facilities within 36 months. After completion the plant will be operated with a gas troughput capacity of around 283 million cubic feet per day.

07 Aug 2006

Dubai Offshore Oil Fields Transition to New Operator

The Government of Dubai and Dubai Petroleum Company (DPC) announced a joint agreement that will change the operating arrangements for Dubai offshore oilfields. Effective April 2007, DPC will end its role as operator, marking the end of Dubai's first offshore oil concession and the beginning of a new phase in which the Emirate of Dubai will directly control its offshore oil resources. DPC is wholly owned by ConocoPhillips and part of the DPC/Dubai Marine Areas Limited (DUMA) consortium involving interests from Total (France), Repsol YPF (Spain), RWE Dea AG, a subsidiary of RWE AG (Germany) and Wintershall AG, a subsidiary of BASF (Germany).