RWE Dea Picks Up Licenses on Norwegian Shelf

RWE Dea Picks Up Licenses on Norwegian Shelf

Wednesday, April 20, 2011
RWE Dea AG

RWE Dea Norge has been awarded two licenses in the recent licensing round by the Norwegian Government. This further strengthens the company's long-term commitment on the Norwegian Shelf.

RWE Dea was awarded a 30% share in the license PL609 in the Barents Sea and a 15% share in the license PL596 in the Norwegian Sea. "License PL609 is located due East of the Skrugard discovery and enlarges RWE Dea's portfolio in this very promising area," explained Hugo Sandal, Managing Director of RWE Dea. "PL596 is a license on the Atlantic Margin and positions RWE Dea for this play."

These two new licenses add up to RWE Dea Norge's already promising and solid license portfolio in Norway. In January, RWE Dea Norge has already been awarded three licenses on the Norwegian Shelf, of which one is in the North Sea and two are in the Norwegian Sea. Norway plays an important in role in RWE Dea's strategic target to boost its annual gas and oil production to more than 70 million barrel of oil equivalents by 2016.