New partnership structure in the Norwegian licence PL 435 is officially in place. DEA has now a 55 per cent share as an operator in the Dvalin licence. Partners are Petoro with a 35 per cent share, and Edison Norge with a 10 per cent share.

DEA has taken 10 per cent from Maersk Oil and another 5 per cent from Edison. Petoro has come in to the licence, taking over 20 per cent from OMV (Norge), 10 per cent from Maersk and as well 5 per cent from Edison.

"We are very pleased with this new partnership, and especially to have Petoro on board. Having the partnership officially in place gives us the opportunity to fully focus on developing the Dvalin field", says Hans-Hermann Andreae, Managing Director of DEA Norge.

The Dvalin gas field, previously known as Zidane, discovered in 2010, is DEA's first own operated field development project in Norway.

The field is located in Production Licence (PL) 435, approximately 15 kilometres northwest of the Heidrun field and 35 kilometres south of the Skarv field in the Norwegian Sea. The licence was awarded in the Awards in Predefined Areas (APA) 2006.

The Plan for Development and Operation (PDO) was submitted to the Authorities in October 2016. First gas is expected in 2020 and it is planned to produce a total volume of approximately 18.2 billion cubic metres of natural gas from two reservoirs. The development cost is estimated to 1.1 billion Euros (10 billion Norwegian Kroner).

About DEA in Norway

DEA has been present in Norway via its subsidiary DEA Norge for more than 40 years. DEA Norge has a solid and promising licence portfolio with assets in all major phases in the North Sea, the Norwegian Sea as well as in the Barents Sea. DEA operates the Dvalin development, is partner in 12 producing fields as well as in promising discoveries, like Alta, Snadd, Snilehorn or Skarfjell. Furthermore, DEA holds interests in attractive exploration licences as operator and partner on the NCS.

About DEA

DEA Deutsche Erdoel AG is an international operator in the field of exploration and production of crude oil and natural gas based in Hamburg. Its focus is on safe, sustainable and environmental conscious exploitation of oil and gas. DEA has 118 years of experience working along the whole upstream value chain as operator or project partner. With a staff force of 1,350 employees, DEA has shares in production facilities and concessions in, among others, Germany, Norway, Denmark, Egypt and Algeria.