Date: 9 months ago   Category: Economy

Shareholders of Alfa-Bank invest €2 billion in oil and gas production in Norway


The international oil and gas company DEA Group with the headquarters in Hamburg declared that it will increase investments into oil and gas projects in Norway. DEA in 2014 has been bought LetterOne - the structure created by shareholders of Alfa Group for investment into the international assets in oil and gas and telecommunication branches. the International oil and gas company DEA Group with the headquarters in Hamburg (Germany) has reported

on August 27 on the website that it will invest more than €2 billion in projects in Norway, including - in Dvalin gas mining.

the Company plans to double production on the Norwegian continental shelf.

"DEA possesses the considerable and balanced portfolio on all areas of the shelf. Now we have concentrated on Dvalin which operator are ourselves. Production, according to plans, starts in 2020. The most part of investments goes to this project, - the press service DEA Group to the head of the company quotes Maria Hanssen. - However, possessing a share in 50%, we is the main shareholder of development [the oil and gas field] of Njord. Together with the operator, the Equinor company, we work on improvement of the available installations and we plan to develop and integrate the Bauge Field field subsequently".

the Company develops also the Nova field in a northern part of the Norwegian Sea, the beginning of production on the site is planned for 2021. Hanssen has reported that after start of all projects the volume of production of the company in Norway will double.

of RBC Ukraine writes that DEA belonged to the German energy company RWE till 2014 when it was bought by L1 Energy - division of LetterOne Group, the structure created by shareholders of Alfa Group for investment into the international assets in oil and gas and telecommunication branches.

Final shareholders Alpha Group are the Russian businessmen Mikhail Friedman, German Han and Alexey Kuzmichev. Enter into banking group of the company "Alfa-Bank Ukraine", "Alfa-Bank Belarus" and "Alfa-Bank Kazakhstan".

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