RWE Dea

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RWE Dea AG
Industry Oil and gas
Predecessor Deutsche Erdöl-Aktiengesellschaft (DEA)
Headquarters Hamburg, Germany
Number of locations
12
Revenue €1.9 billion
€558 million
€197 million
Number of employees
1,362
Parent RWE

RWE Dea AG is an international oil and gas company headquartered in Hamburg, Germany. It is a subsidiary of RWE. As of 2014, RWE Dea owns stakes in about 190 oil and gas licenses in 14 countries.[1] The company also operates natural gas underground storage facilities in Germany.[2]

DEA is a derivation from Deutsche Erdöl-Aktiengesellschaft, the original name of the company.

In 2013, RWE put Dea for sale. Wintershall, a consortium of KKR & Co. and Kufpec, and an investment company L1 Energy of Mikhail Fridman made their bids.[1] In March 2014 it was announced that DEA would be bought by L1 Energy for €5.1 billion.[3] On August 22, 2014 Germany's economy ministry approved the sales to Russian tycoon Mikhail Fridman and his co-investors.[4]

Canary Islands[edit]

Following years of opposition from environmentalist groups, Spain finally gave permission in August 2014 for a consortium including RWE Dea AG to explore prospects off the Canary Islands. The exploration program involving an investment of €7.5 billion over four years was expected to commence at the end of 2016.[5]

References[edit]

  1. ^ a b Schuetze, Arno (2014-01-23). "RWE receives bids worth 3.5-5 bln euros for DEA - sources". Reuters. Retrieved 2014-02-08. 
  2. ^ "RWE Dea". OilVoice. Retrieved 2010-06-14. 
  3. ^ Andresen, Tino; Humber, Yuriy (2014-03-17). "Billionaire Fridman's L1 Buys RWE Unit for $7.1 Billion". Bloomberg. Retrieved March 23, 2014. 
  4. ^ Ludwig Burger (August 22, 2014). "Germany clears $6.9 billion RWE unit sale to Russian investor". 
  5. ^ "Spain's Repsol gets long awaited green signal to explore off Canary Islands". Spain News.Net. 13 August 2014. Retrieved 13 August 2014. 

External links[edit]