Ministry of Petroleum and Energy Offers Two New Licences to RWE Dea

In the Awards in Predefined Areas 2012 (APA 2012), the Norwegian Ministry of Petroleum and Energy has offered RWE Dea Norge two new production licences, one of which is an operatorship.

RWE Dea Norge will become operator of a new production licence (PL) with a 40% share, PL694. This increases the company’s total number of operatorships to seven on the Norwegian Continental Shelf. The new production licence is located in the northern part of the Norwegian Sea and in the same area as the company’s operated licences PL330, PL653 and PL654. The award supports RWE Dea Norge’s long term strategy to build a strong portfolio in this area, which the company views as very promising.

RWE Dea Norge has also been awarded a 20% share in PL682 in the northern part of the North Sea. This licence is situated in another area where the company has a solid foothold through its operatorship of PL420 with the Titan discovery and as partner in the Gjøa field and PL418 (Skarfjell prospect).

“We are very pleased with the APA 2012 awards, and like in the previous years we interpret it as a vote of confidence from the authorities,” says Hans-Joachim Polk, Managing Director of RWE Dea Norge. “With these new licences we will strengthen our position in two of our core areas, whilst also consolidating and further developing our standing as a long term player in Norway,” Polk adds.

After a successful year 2012 with several discoveries on the Norwegian Continental Shelf, also 2013 will be very active for RWE Dea Norge. In addition to drilling two wells in the Titan area (PL 420), the company is going ahead with an exploration well at the PL330 licence in the Norwegian Sea, as well as taking important steps in the development of the Zidane field.

Awards in Predefined Areas is the annual licensing round for award of licences in mature areas on the Norwegian Continental Shelf. The APA system was established in 2003. This year, the Norwegian Ministry of Petroleum and Energy is offering shares in 51 new production licences to 40 companies.

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Press Release, January 22, 2013