Mergers and Acquisitions: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

RWE Dea Won Offshore Block from Trinidad & Tobago

Source: www.gulfoilandgas.com 4/26/2011, Location: Europe

Share |

As a result of the 2010 shallow water bid round in Trinidad and Tobago, RWE Dea has been awarded one of the country’s offshore blocks. The respective Production Sharing Contract has now been signed with the Government of Trinidad and Tobago in Port of Spain. For RWE Dea, this marks the entry into the country with its established natural gas infrastructure in a prolific oil and gas prone region.

The NCMA2 block is situated approximately 50 kilometers off the northern coast of Trinidad. The block covers 1,019 km, and is located in water depths of 100 to 200 meters. It is on trend with the Hibiscus and Chaconia gas fields. Operational work is planned to commence in July with the acquisition of a 3D seismic survey covering the whole concession. RWE Dea's share in block NCMA2 is 24% with Niko Resources as operator holding 56% and the state company Petrotrin the remaining 20%.

“We are delighted to have been awarded our first block in Trinidad and Tobago”, said Thomas Rappuhn, Chief Executive Officer of RWE Dea AG. “The signed PSC strengthens our strategic position and secures further highly prospective exploration acreage for the company.” In its annual press conference in early April, the RWE Dea had already announced to increase its annual gas and oil production to 70 million barrel of oil equivalent by 2016. “To allow us to sustain the anticipated higher production volumes of the coming years for the long term, and to increase them, we step into new areas like Trinidad and Tobago and will expand our country portfolio even further,” Rappuhn continues. RWE Dea is today active in 14 countries through licences and branch offices. The company holds stakes in more than 170 licences and is the operator in more than 40% of them.

The engagement in Trindad and Tobago also ties in with RWE's gas strategy to strengthen the group’s business in one of the most important LNG supply countries along the Atlantic margin.

Mergers and Acquisitions News in Spain >>

Genesis Acquires Enterprise’s GoM Assets for $1.5 Billion
  United States >>  7/16/2015 - Enterprise Products Partners L.P. (NYSE:EPD) today announced that it has executed definitive agreements to sell its offshore Gulf of Mexico pipelines ...
Shell to Sell its Interest in Elba LNG JV to Kinder Morgan
  Georgia >>  7/15/2015 - Kinder Morgan, Inc. and Shell announced that they have reached an agreement for Kinder Morgan to purchase 100 percent of Shell's equity interest in El...

SBM Offshore Divests Stake in Turritella Project
  United States >>  7/15/2015 - SBM Offshore has entered into an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stak...
WPX Energy to Enter Permian Basin with $2.35 billion Deal
  United States >>  7/14/2015 - Oil and gas producer WPX Energy Inc would acquire privately held RKI Exploration & Production LLC for $2.35 billion, the latest in a series of deals b...

Halliburton & Baker Provide Update on Proposed Acquisition
  United States >>  7/10/2015 - Halliburton Company and Baker Hughes Incorporated have entered into a timing agreement with the Antitrust Division of the U.S. Department of Justice (...
Brazil Clears Shell's $70 bln Purchase of BG
  Brazil >>  7/8/2015 - Brazil gave the green light to oil major Royal Dutch Shell to buy smaller rival BG, advancing the $70 billion merger -- the largest of the past decade...



Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Spain Oil & Gas 1 >> 

More News

Oil & Gas Companies in Spain >>

Related Links

Countries Quick Links

00 AL AT BE BG CH CY CZ DE DK ES FI FR GR HR HU IE IT MT NL NO PL PT RO SE SI TR UK
Gulf Oil and Gas B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed