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DEA oil and gas exploration summary

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Report summary

In March 2014, RWE AG agreed to sell its upstream exploration and production portion of the group to LetterOne (L1). The deal valued the upstream business unit at US$7.1 billion and concluded in early 2015, and is now known simply as DEA.The company's exploration strategy includes a mix of near field drilling and frontier activity, concentrating on its five core countries (Norway, Germany, Denmark, Egypt and Algeria). In Europe, the company targets areas with existing infrastructure in Norway, onshore Germany, and Denmark. It has aggressively built its portfolio in Norway through, giving it a large inventory of prospects to target. Its priority in the region is to bring new discoveries onstream quickly.

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Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration strategy
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
    • Production from new field discoveries, organic unconventionals and as a proportion of all future production
    • Egypt drives value creation and discovered resources
    • Norway is being established as a core area
    • Libya delivers big resources but marginal returns
    • Domestic activity focused on supporting legacy fields

Tables and charts

This report includes 23 images and tables including:


  • Basins drilled and all conventional & organic unconventional discoveries 2007-2016
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Reserves and resources: Image 1
  • Reserves and resources: Image 2
  • Reserves and resources: Image 3
  • Volumes discovered by basin
  • Strategy: Image 1
  • Strategy: Image 2
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Production: Image 1
  • Full cycle value creation by year
  • Exploration returns by year
  • Costs and development value by reserve category
  • Returns by water depth


  • Ten year performance summary
  • All discoveries (2007 to 2016)
  • Full-cycle economics
  • Swot Grid
  • Gross exploration & appraisal wells by basin and sector

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