RWE Dea will not spud the next field development well “Völkersen Nord Z7”. The drilling rig T160 is currently being transported to the planned drilling site, where it will be placed in storage. The assembly work and commissioning will be carried out at a later date when feasible. The declining gas and oil prices and the fact that prices of equipment, material and services remain very high are the reasons for this operational measure. RWE Dea has taken up discussions with its suppliers with a view to jointly reaching solutions. Other projects will also be studied to generate savings for offsetting the current price developments.

The employees of the drilling operation were informed of the shutdown within the scope of a company meeting. The spudding of the well will be discussed at a later point in time again.

About the drilling rig T-160

The drilling rig T-160 is one of Europe’s most high-performing drilling systems. The electrically driven deep drilling rig with a drive output of over 6,300 kilowatts also facilitates widely deviated as well as horizontal wells with distances of over 6,000 metres. The derrick of the T-160 rig stands about 62 metres tall.

About RWE Dea

RWE Dea AG, headquartered in Hamburg, is an international company engaged in the exploration and production of natural gas and crude oil. The company deploys state-of-the-art drilling and production technologies and puts its many years’ experience acquired to good use in its activities. RWE Dea has set new standards in the fields of safety and environmental protection.

RWE Dea has stakes in production facilities and concessions in Germany, the UK, Norway, Denmark, Egypt and Algeria, and holds exploration licenses in Ireland, Libya, Mauritania, Poland, Suriname, Trinidad & Tobago, and Turkmenistan. Moreover, in Germany RWE Dea operates large subterranean storage facilities for natural gas. RWE Dea is part of the RWE Group, one of Europe’s largest energy utilities.