Gulf Oil and Gas accountACCOUNT

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 >>

Thailand >>  8/30/2016 - Following the acquisition of Wellstaff (in April 2016) and three years after that of Fortiori (in July 2013), SeaOwl announces the acquisition of Ogas...
Colombia >>  8/23/2016 - Gran Tierra Energy Inc. has completed the previously announced acquisition of PetroLatina Energy Ltd. for a purchase price of approximately $525 milli...

Singapore >>  8/23/2016 - Sembcorp Marine Limited (the “Company”) wishes to announce that it has today entered into a sale and purchase agreement with PPL Holdings Pte Ltd (PPL...
United Kingdom >>  8/21/2016 - Jura Energy has announced that further to the Corporation's press release dated July 21 2016, the TSX Venture Exchange ('TSX-V') is currently in the p...

Malaysia >>  8/16/2016 - Malaysia Marine and Heavy Engineering Holdings Berhad (MHB) reported that its subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) and East...
United States >>  8/15/2016 - Concho Resources Inc. has reached a definitive agreement to acquire approximately 40,000 net acres in the core of the Midland Basin from Reliance Ener...

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

Related Articles: Accounting, Statistics  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

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
Copyright © Universal Solutions All rights reserved. - Privacy Policy.