RWE Top News
RWE Dea remains on growth track
Hamburg-based RWE Dea remains on its growth track in the international gas and oil business, as numerous operational successes prove. Despite the economic crisis in 2009 and significantly lower prices for crude oil and natural gas leading to a fall in revenues and a lower operating result, RWE Dea invested in promising projects and increased its reserves and resources. “In spite of the unfavourable market environment, RWE Dea continues to pursue its ambitious growth targets and the associated investment plans,” the new Chairman of the Board of Management, Thomas Rappuhn, emphasised at today’s annual press conference in Hamburg. “The generally difficult economic situation has also opened up opportunities. By acquiring successfully explored gas fields in the UK, we have laid the foundations for rapid growth,” Thomas Rappuhn continued. In 2009 RWE Dea wrote another chapter in its success story of exploration and appraisal wells: “A 63% discovery rate was significantly higher than the figures for previous years and it is also well above the industry average.”more
Memorandum of understanding signed for exploration activities in the Republic of Azerbaijan
The RWE Group expands its commitment in Azerbaijan. The company and the State Oil Company of the Republic of Azerbaijan (SOCAR) have signed a memorandum of understanding to draw up an agreement for the hydrocarbon exploration and development for the Nakhichevan perspective structure in the Azerbaijan sector of the Caspian Sea. The signing of the memorandum of understanding took place today in Baku.more