|Industry||Oil and gas|
|Predecessor||Deutsche Erdöl-Aktiengesellschaft (DEA)|
Number of locations
Number of employees
DEA AG is an international oil and gas company headquartered in Hamburg, Germany. It is a subsidiary of L1 Energy. As of 2014, DEA owns stakes in about 190 oil and gas licenses in 14 countries. The company also operates natural gas underground storage facilities in Germany.
DEA is a derivation from Deutsche Erdöl-Aktiengesellschaft, the original name of the company.
DEA was formerly a subsidiary of RWE, which put DEA for sale in 2013. Wintershall, a consortium of KKR & Co. and Kufpec, and an investment company L1 Energy of Mikhail Fridman made their bids. In March 2014 it was announced that DEA would be bought by L1 Energy for €5.1 billion. On August 22, 2014 Germany's economy ministry approved the sales to Russian tycoon Mikhail Fridman and his co-investors.
Following years of opposition from environmentalist groups, Spain finally gave permission in August 2014 for a consortium including 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.
- Schuetze, Arno (2014-01-23). "RWE receives bids worth 3.5-5 bln euros for DEA - sources". Reuters. Retrieved 2014-02-08.
- "RWE Dea". OilVoice. Retrieved 2010-06-14.
- Andresen, Tino; Humber, Yuriy (2014-03-17). "Billionaire Fridman's L1 Buys RWE Unit for $7.1 Billion". Bloomberg. Retrieved March 23, 2014.
- Ludwig Burger (August 22, 2014). "Germany clears $6.9 billion RWE unit sale to Russian investor".
- "Spain's Repsol gets long awaited green signal to explore off Canary Islands". Spain News.Net. 13 August 2014. Retrieved 13 August 2014.