DEA Norge has a long history in Norway, with several owner changes. Through 45 years, both our staff and portfolio have seen a steady increase.
A bold new start-up, with moderate results
The German company Deminex GmbH establishes Deminex Norge AS in 1973. Over the next few years, the company secures three production licences in the North Sea.
Success in sight
Deminex Norge establishes permanent offices in Oslo in 1978. That same year Deminex Norge acquires interests in the licences that later will prove to contain Veslefrikk and Snorre fields. This marks the start of a long period of growth for Deminex Norge. In 1979, the Snorre field is discovered, which continues to be one of the company’s main sources of oil to this day. Deminex Norge has just six employees in 1980, but from this point on the company experiences rapid expansion.
Steady growth in the face of tough competition
Deminex Norge sees steady growth. The Veslefrikk field is discovered in 1981, and in 1984 the company wins the competition for new licences. Deminex secures an important interest in Production Licence (PL)089, which includes the southern part of the Snorre field, as well as the Vigdis, Tordis and Borg fields. In this licensing round, the company also acquires an interest in PL097 in the Barents Sea, where the giant gas field Snøhvit was later found.
During this period, the company was awarded shares in PL074 and PL132, where the Midgard and Njord fields were later discovered, but these shares were later traded against production in the Snorre area.
In 1988 the company also secures an interest in PL153, which includes the Gjøa oil and gas field.
In 1991, the company becomes an operator on the Norwegian continental shelf for the first time, for PL166 in the North Sea. Although the first well turns out to be dry, it proves a useful learning experience for the company.
RWE Dea Norge sees substantial growth
In 1998, the company changes its name to RWE Dea Norge, due to changes in the parent company’s ownership structure in Germany, where RWE Dea AG becomes the majority shareholder of Deminex Norge.
In 2005, the company secures 20 per cent of a licence in which the sizable Luno (now Edvard Grieg) oil field was discovered in 2007. In 2012, before development had commenced, RWE Dea Norge sold its interest in the field.
2006 is an important year for RWE Dea Norge. The company is awarded equity participation as well as operatorship for PL420 and PL435.
In 2010, the company achieves its greatest milestone in recent history: The company makes its first discoveries as an operator, striking significant hydrocarbon deposits in Zidane (PL435), as well as making a discovery in Titan (PL420). Few had any faith in the Zidane prospect, but RWE Dea trusted its own analyses and drilled in an area where other companies had previously come up dry.
100 employees and soon to be operator of producing fields
With Zidane, RWE Dea Norge becomes the operator of a field which will be appraised and is planned to be developed and go into production. The responsibilities and tasks of the company grow significantly.
From 2011 to 2012 RWE Dea Norge expands from 70 to 100 employees. The company is awarded seven new licences in 2012. The activity level in 2012 is record high with, among other things, the finalisation of drilling plans for the Sverdrup prospect in the Norwegian Sea (PL330), as well as the drilling of a second exploration well in the Zidane field. This well confirms Zidane as a commercially attractive field. Plans for the development of the Zidane field begin to take shape.
In 2012, RWE Dea Norge wins the Norwegian–German Chamber of Commerce business award for its focus on developing new methods and exchange of knowledge between Norway and Germany.
40 years in Norway and bright prospects
RWE Dea Norge is celebrating its 40th anniversary in 2013 by moving into new and larger offices to accommodate its expanding organisation. The company now has 32 licences and is operator of five of them.
Four exploration and appraisal wells, including one side-track, are drilled during this period by RWE Dea as operator. The company aims to develop the Zidane field for production in the next few years.
In 2013, the company becomes operator of PL721 in the Barents Sea, and towards the end of 2014, a considerable oil discovery is made in PL609, Alta, where the company has a 30% share. These events prove that the company’s strategy to build a license portfolio over time in the Barents Sea has been successful. The intention is to follow this strategy in the coming concession rounds, such as the 23rd round, where the company is now working on the evaluation.
New owners, but still the same company
From March 2015, our parent company changed owners and got a new name: DEA Deutsche Erdoel AG. This marks a new era in our company history. The new owners, a private, Luxembourg based investment fund, LetterOne, are using DEA as a platform for growth within the oil and gas industry.
In December 2015, the first manifestation of this growth strategy became visible when DEA Norge bought E.ON E&P Norge, now renamed DEA E&P Norge.
We will continue to be a reliable partner on the Norwegian shelf also in the future.
Time for change
A new chapter in DEA Norge’s history began 18 May 2016, when the company’s office moved to Stavanger. The decision to move the office is reflecting the necessity to increase proximity to partners, operators, authorities and expertise pools.