E.ON Ruhrgas Acquires 29 % Interest in Exploration Licence Offshore Egypt

Source: www.oilegypt.com 2/18/2009, Location: Africa

German gas market leader E.ON Ruhrgas has acquired a 29 % interest in the NW Demiatta exploration licence from Shell Egypt N.V. The licence is operated by Shell Egypt N.V. (61 %) and the additional partner is GdF Suez (10 %). NW Demiatta is located in the Nile Delta, offshore Egypt. "We believe this licence offers significant gas exploration potential," said Dr. Jochen Weise, member of the E.ON Ruhrgas Board of Management.

An exploration well is planned to be drilled later this year. With two LNG plants, Egypt is an important gas supplier to Europe. "Gas upstream is an important growth area for E.ON Ruhrgas, which, along with an increased focus on LNG, contributes to long-term security of supply for our customers throughout Europe. In this respect, Egypt is a strategically important partner," Mr. Weise added.

E.ON Ruhrgas already has its own gas production in Norway and the UK. Expansion to North and West Africa is now taking place in order to secure gas and LNG supplies for European markets.

In 2008 E.ON Ruhrgas was awarded an exploration licence in Algeria where the company will drill several wells over the next years. The company has also established representative offices in Algeria, Libya and Nigeria to expand long-term gas production.


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