Corporate anniversary: DEA Deutsche Erdoel AG turns 120 / Merger in the making (FOTO)

Hamburg (ots) -

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.

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.

CEO Maria Moraeus Hanssen who joined DEA in January 2018, pointed
out that she is the 13th CEO of the company: "I am proud to open a
new chapter in the history of this German upstream company. DEA has
come a long way in addressing the challenges of a modern oil and gas
company, using our competence and resources to help secure a reliable
energy supply, while continuously work on minimizing the carbon
footprint from upstream exploration and production. DEA's workforce
can be proud to be part of the remarkable story of the oil and gas
industry."

The Chairman of the Supervisory Board, Lord (John) Browne of
Madingley, commented the anniversary with the following words: "DEA
is one of a small number of companies around the world that can trace
its routes back more than a century. Today, DEA is a very different
company. It has a high quality and focused portfolio, with
world-class positions in a number of important hydrocarbon-producing
countries such as Mexico and Norway. This provides a strong
foundation for a new chapter of growth and development. As we prepare
to come together with Wintershall to form Europe's largest
independent E&P company, I thank everybody at DEA for their continued
commitment and hard work."

Background information on the company history and link to the
birthday movie: http://ots.de/c2zV9m

Contact:
Derek Mösche
Pressesprecher
T +49 40 - 63752670
M +49 162 - 2732670

DEA Deutsche Erdoel AG
Unternehmenskommunikation | Überseering 40 | 22297 Hamburg
T +49 40 6375-2159 | F +49 40 6375-3162 | E press@dea-group.com

Original-Content von: DEA Deutsche Erdoel AG, übermittelt durch news aktuell