FRANKFURT, Feb 18 - German gas market leader E.ON Ruhrgas (EONGn.DE) has bought a 29 percent stake in the NW Demiatta offshore exploration licence from Shell Egypt N.V. (RDSa.L) in the Nile Delta, it said on Wednesday.
The licence is operated by Shell Egypt N.V. (61 percent), E.ON, and GdF Suez (10 percent) (GSZ.PA), and aims at tapping more Egyptian gas sources for Europe, it said in a statement.
The licence holders plan to drill n exploration well later this year. "We believe this licence offers significant gas exploration potential," board member Jochen Weise said.
"Upstream gas is an important growth area for E.ON Ruhrgas, which along with an increased focus on liquefied natural gas (LNG), contributes to the long-term security of supply for our customers throughout Europe," he added.
E.ON Ruhrgas already has its own gas production in Norway and Britain and is expanding in North and West Africa.
It plans to drill several wells in Algeria over the next few years and last month signed an agreement to further develop LNG in Equatorial Guinea.
The licence is operated by Shell Egypt N.V. (61 percent), E.ON, and GdF Suez (10 percent) (GSZ.PA), and aims at tapping more Egyptian gas sources for Europe, it said in a statement.
The licence holders plan to drill n exploration well later this year. "We believe this licence offers significant gas exploration potential," board member Jochen Weise said.
"Upstream gas is an important growth area for E.ON Ruhrgas, which along with an increased focus on liquefied natural gas (LNG), contributes to the long-term security of supply for our customers throughout Europe," he added.
E.ON Ruhrgas already has its own gas production in Norway and Britain and is expanding in North and West Africa.
It plans to drill several wells in Algeria over the next few years and last month signed an agreement to further develop LNG in Equatorial Guinea.
