DEA strikes deal for E.ON’s offshore Norway interests

Offshore staff

HAMBURG, Germany  ̶  DEA Deutsche Erdoel has acquired E.ON’s Norwegian oil and gas business for $1.6 billion, in the process more than doubling its current production offshore Norway to 75,000 boe/d.

The transaction remains subject to approval by Norwegian authorities and the European Commission.

E.ON has equity in 43 Norwegian licenses and around 45,000 boe/d of production through its interest in the Skarv (28.1%), Njord (30%) and Hyme (17.5%) fields, all in the Norwegian Sea.

DEA will also gain interests in prospective developments and discoveries, including Snilehorn, Snadd and Fogelberg, and numerous exploration licenses across the Norwegian continental shelf.

Lord Browne, chairman of the Supervisory Board of DEA Deutsche Erdoel, said: “This acquisition is the first step in DEA’s new growth strategy. DEA has access to substantial financial resources, and I expect the company to make further investments in the Norwegian continental shelf, as well as in its other core areas.”

CEO Thomas Rappuhn added: “In addition, we continue to work on further growth in Europe and North Africa by progressing development projects in our portfolio, as well as by pursuing M&A opportunities in these regions.”

DEA Norge currently holds 31 licenses, with interests in producing fields such as Snorre, Gjøa, Knarr, Snøhvit, and Veslefrikk. It also operates several exploration licenses and the Zidane discovery which is under consideration for a development, and is a partner to OMV in the Alta discovery in the Barents Sea.



Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...