RWE Dea Wins Five Norwegian Licenses

During the recent APA 2006 licensing round, the Norwegian Ministry of Energy awarded RWE Dea stakes in five exploration license areas. The company will be the operator in three licenses.

RWE said that the awards will boost its strong position in the offshore region of Norway. This applies both to the Barents Sea to the north and the Norwegian Sea in the center, as well as the Norwegian North Sea south of the Norwegian continental shelf.

The details of the exploration areas awarded are as follows:

--In the Barents Sea, RWE Dea is a participant with a stake of 20 percent in blocks and 7120/1,2 in parts of blocks 3,4,5 and 6 as well as a 30-percent stake in block 7121/1 and parts of block 7120/3.
--In the Norwegian Sea, RWE Dea will be operator in parts of blocks 6507/7 and 8, with a stake of 40 percent.
--In the Norwegian North Sea, RWE Dea will ultimately be operator with a 35-percent stake in part of block 35/9 and a stake of 50 percent in one section of block 3/3.

Compared with other Norwegian exploration areas, the Barents Sea region has hardly been explored to date, and its hydrocarbon potential is assessed as high. The licenses awarded to RWE Dea are in the vicinity of the significant gas field Snoehvit that is currently under development. However, the other new areas to be explored also show good hydrocarbon potential.

"By successfully taking part in the APA 2006, we managed to further extend and diversify our exploration portfolio in Norway," said Thomas Rappuhn, Management Board member in charge of Operations. "Of course, we hope the rapid conclusion of the planned work programs will also be rewarded with the exploration successes we anticipate."

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