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Germany: Rhein Petroleum builds licence portfolio in Germany and enters JV with Wintershall for the Arlesried field
03 Feb 2009
- Rhein Petroleum holds 4 significant oil and natural gas licences in Germany covering 900,000 acres
- Focus on the established oil regions of the Rhine Valley and the Alpine Foreland region in Bavaria
- One of the largest licence holders in southern Germany
- 50:50 Joint Venture signed with Wintershall Holding AG to re-develop Arlesried, historically the largest Bavarian oil field
In 2008 Rhein Petroleum was awarded four significant oil and gas exploration licences and one production concession in southern Germany covering a total area of approx. 900,000 acres. The company has achieved its initial aim of establishing a portfolio of German licences and provides the following details:
Rhein Petroleum was awarded the large-scale exploration licence 'Schwaben-Sud' by the Bavarian State Government on April 4 2008. The licence covers 509,000 acres with an initial term of 5 years. The area incorporates the previously active oil fields Arlesried, Boos, Heimertingen, Niederrieden, Lauben and Lauberhard as well as the Kinsau discovery. Production from these fields was terminated in the 1980’s and 1990’s, typically during periods of very low oil prices.
With regard to its strategy to re-develop the fields within the licence area, Rhein Petroleum announces a major step forward to re-activate Arlesried, historically the largest Bavarian oil field. RP has entered a 50:50 Joint Venture with Wintershall Holding, Germany’s largest oil and gas company and the original operator of the field, to further produce its oil reserves. Wintershall will act as operator in this new endeavour.
Mittlerer Oberrhein, Baden-Wurttemberg
Rhein Petroleum was awarded the 'Mittlerer Oberrhein' exploration licence by the Baden-Wurttemberg State Government on June 4 2008. The licence covers 162,000 acres and has an initial term of 3 years. The licence covers a significant tract of the Upper Rhine Valley (Oberrheingraben) between Achern, north of Kehl, down to Erdingen, north of the Kaiserstuhl. The licence area surrounds the Offfenburg oil field which Preussag actively produced between 1982 and 1987. A number of wells were also drilled on the licence area in the 1950’s and 1960’s, some with excellent oil and gas shows.
Nordlicher Oberrhein, Hessen
Rhein Petroleum was awarded the 'Nordlicher Oberrhein' exploration licence by the Hessen State Government on November 17 2008. The licence covers 158,000 acres and covers most of the Upper Rhine Valley (Oberrheingraben) in the State of Hessen. The licence area incorporates several previously active oil and natural gas fields, all of which were abandoned between the 1970’s and 1990’s including Stockstadt, Wolfskehlen and Pfungstadt.
Rhein Petroleum was awarded the 'Heidelberg-Weinheim' exploration licence by the Baden-Wurttemberg State Government on July 8 2008. The licence covers 64,000 acres, has an initial term of 3 years and lies on the eastern section of the Rhine Valley, immediately to the south of the 'Nordlicher Oberrhein' licence. The recent significant oil discovery at Speyer is in the vicinity.
In each of the licence areas awarded to Rhein Petroleum the company expects that a new evaluation of the abandoned fields using modern discovery and production techniques will permit economic production of remaining oil and natural gas reserves. In addition, modern seismic technology and geological modelling will be applied to determine the exploration potential of the licences. Rhein Petroleum’s initial focus is therefore the Rhine Valley and the Lower Alpine region in Bavaria, areas with a significant oil and gas production history. 119 wells produced oil and gas over a period of several decades within the licence areas now held by the company.
Rhein Petroleum’s Managing Director Franz Nieberding: 'We were very successful in 2008 in building a portfolio of exploration and commercial production licences in southern Germany. In 2009 we plan to evaluate and re-interpret existing data in order to identify drillable prospects. Drilling activity could commence in 2010. Securing Wintershall as a Joint Venture partner confirms the validity of our strategy to return to the known German oil regions to produce remaining oil and gas reserves.'
About Rhein Petroleum
Rhein Petroleum is a new Exploration and Production company, set up with the aim of finding and producing oil and natural gas reserves in Europe. The company’s initial focus is to establish a portfolio of exploration licenses in Germany. The Heidelberg-based company is a joint venture equally owned by Activa Resources AG, Deutsche Rohstoff AG and Herzford International Ltd. For further informationen visit the Rhein Petroleum website: www.rheinpetroleum.de.
Source: Rhein Petroleum