DEA Norge $1.6 billion acquisition of E&P Norge

Overview:

• Norwegian oil and gas company DEA Norge has completed its $1.6 billion acquisition of E&P Norge from EON.
• The deal provides DEA with extraction licences in the North Sea, the Norwegian Sea, and the Barents Sea and will increase its oil production in Norway to 75,000 barrels per day.
• DEA Norge is part of German group DEA Deutsche Erdoel, which itself is part of LetterOne, a private investment firm based in Luxembourg.
• The new company will be known as DEA E&P Norge.

Kurt Stumpo - Journalist