RWE Dea increases stake in Southern North Sea field

abarrelfullabarrelfull wrote on 24 Apr 2013 18:35

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30 May 2006

RWE Dea UK announced today that it has increased its stake in the Topaz field through an acquisition of a 37.5% interest in Block 49/2a in the UKCS Southern North Sea.

The Topaz field spans Blocks 49/2a and 49/1a. RWE Dea already operates Block 49/1a with 75% equity. With today’s acquisition of EOG Resources’ 37.5% share in Block 49/2a, RWE Dea will hold more than 50% of the Topaz field, and intend to accelerate the development.

In addition to the acquisition of the 37.5% equity in Block 49/2a, as part of the same deal, RWE Dea has also acquired 36.95% of Block 49/2b and 35% of Block 43/25a, both of which are operated by GDF Britain Ltd.

Commenting on the acquisition, RWE Dea UK Managing Director, Christoph Schlichter said: “The acquisition of this additional equity in the Topaz field provides us with a great opportunity to drive the development of the field towards first gas production in Q4 2007. We look forward to working with our partners to achieve this.”

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