West Nile Delta concessions

RWE Dea will be investing 3.6 billion US-Dollars in the field development in the North Alexandria and West Mediterranean Deep Water concessions – the biggest single investment for the upstream company to date.

With reserves of more than 50 billion cubic metres of natural gas (RWE Dea share), the fields in the North Alexandria and West Mediterranean Deep Water concessions are among the largest in RWE Dea’s portfolio.

Start of production from these concessions is expected by 2014. Amongst other field development projects of RWE Dea, such as Breagh in the United Kingdom and Gjøa in Norway, North Alexandria will make a substantial contribution to the company’s growth target, which is to double production over the next five years. As a partner in the field development, RWE Dea will actively support the project through its experts and the company’s own know-how.

The North Alexandria and West Mediterranean Deep Water concessions are located in the offshore region of the West Nile Delta, some 40 kilometres off the coast of Egypt. The concession includes the Raven natural gas fields in the high-temperature and high-pressure depth domain which extends into the West Mediterranean Deep Water concession. This calls for a high level of investment and the deployment of leading-edge technologies in developing these fields under highest safety and environmental standards. Most of the total investment for the field development in the order of 9 billion US-Dollars will be spent in the North Alexandria concession. BP (the operator with a 60% stake) and RWE Dea (40% stake) will split the total investment accordingly. For RWE Dea, its share will represent the company’s biggest single investment, which will be spent over the lifetime of the project.

During the plateau phase starting 2015, more than 3 billion cubic metres of gas (RWE Dea share) will be produced annually. Planning provides for a production period of about 20 years in the first phase. Development of further natural gas potential including already discovered gas volumes within the concession areas will take place in a second phase.