Germany’s RWE is looking to sell its upstream oil and gas division RWE-Dea, with Qatar thought to be among the key suitors. Most of RWE-Dea’s current 41,000 b/d and 250mn cfd production is in Europe but the firm’s key expansion projects are in North Africa (see tables).
RWE hopes the sale will allow it to focus on its core business of power generation in Germany. But, it may have to settle for a piecemeal, rather than an all-in-one sale. Major delays in recent years (especially post-Arab Spring) to key projects in Egypt, Algeria and Libya have made these assets more of a hindrance than a help in finding suitors. (CONTINUED - 899 WORDS)
