DEA Deutsche Erdoel AG turns 120

Posted On January 10th, 2019 - 12:59 pm | by Oil and gas press

The oil and gas production company DEA Deutsche Erdoel AG turned 120 years today. DEA is one of the most long-standing E & P companies in the world and was one of the first players at the dawn of the commercial oil production era. In Germany, DEA has provided important economic stimulus and made a significant contribution to the domestic energy supply.

The Deutsche Tiefbohr-Actiengesellschaft was first registered in Berlin on 10 January 1899. This started a remarkable company history. Since its inception, DEA had been active in more than 30 countries around the globe.

Due to multiple changes of ownership, the company name has changed several times. Today, the company is called DEA Deutsche Erdoel AG, which corresponds with the 1911 name change to Deutsche Erdöl-Aktiengesellschaft.

Over the past twelve decades, a small national drilling company evolved into an international mineral oil and chemical company. After divestments in 2001 and 2002, DEA focussed exclusively on exploration and production of hydrocarbons.

The sale of RWE Dea to LetterOne took place in 2015. At this point, the existing portfolio started to significantly expand, with takeovers and licence acquisitions in Norway and Mexico. Now in 2019, during the year of our 120th Anniversary, DEA is in the process of merging with its competitor Wintershall, also a successful German oil and gas company.

Once merged, the combined Wintershall DEA will be the largest European independent exploration and production company, with operations in twelve countries located throughout Europe, Latin America, North Africa and the Middle East. The merged company’s joint production in 2017 was approximately 575,000 barrels of oil equivalent (BOE) per day, of which approximately 70 percent came from natural gas. The ambition is to reach a production level of 750,000 and 800,000 BOE per day within 5 years.

Source / More : DEA Deutsche Erdoel AG

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