RWE Dea Expands Exploration Portfolio with Farm-In in Suriname
Hamburg / Paramaribo, --RWE Dea has signed a farm-in agreement with PETRONAS Suriname E&P BV (“PETRONAS Suriname”), acquiring a 40% interest in the licence Block 52 off the coast of Suriname. In doing so, RWE Dea will secure entry into the South American country with proven hydrocarbon potential.
Under the farm-in agreement which is subject to completion, RWE Dea will acquire a 40% stake in the licence for Block 52. The licence area covers 4,743 square kilometres and is located in the Guyana-Suriname Basin, some 120 kilometres off the northeast coast of South America in water depths ranging from 100 to 1,000 metres. PETRONAS Suriname is the operator of this prospective exploration area with high-impact potential in Upper Cretaceous strata. The planned work programme for Block 52 comprises a 3D seismic survey and the drilling of one exploration well in the next three years.
“Taking up a share in this licence provides early access to a promising geological basin, and further strengthens our position in one of our core regions,” said Thomas Rappuhn, Chief Executive Officer RWE Dea AG. “The Equatorial region of South America is of strategic importance for RWE Dea, and we are looking forward to the exploration campaign as this acreage provides the opportunity for the discovery of large scale deposits,” explained Rappuhn.
RWE Dea already has a presence in the region since 2011, when the company acquired a stake in licence NCMA2 offshore Trinidad & Tobago. Drilling of a first exploration well is planned for second half of 2013. Sustainable growth in selected core regions is integral part of the company’s strategy. To that end, RWE Dea is also evaluating participation in the current bid rounds in Suriname and Trinidad & Tobago.
Licensees Block 52:
RWE Dea AG: 40%
Petronas Suriname (operator): 60%
Notes to the editors
RWE Dea AG, headquartered in Hamburg, is an international company operating in the field of exploration and production of natural gas and crude oil. The company deploys state-of-the-art drilling and production technologies and puts its many years’ experience acquired to good use in its activities. RWE Dea has set new standards in the fields of safety and environmental protection.
RWE Dea has stakes in production facilities and concessions in Algeria, Egypt, Denmark, Germany, the UK and Norway, and holds exploration licenses in Ireland, Libya, Mauritania, Poland, Trinidad & Tobago as well as in Turkmenistan. Moreover, in Germany RWE Dea operates large subterranean storage facilities for natural gas. RWE Dea is part of the RWE Group, one of Europe’s largest energy utilities.
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