German utility RWE AG's (RWE.XE) oil and gas unit RWE Dea reached an
agreement with Spain's Repsol S.A. (REP.MC) to acquire a 30% share in a
license for exploration of the Kanuku block off the coast of Guyana.
MAIN FACTS:
-Financial details of the deal weren't disclosed.
-Pending regulatory approval, Repsol will hold a 40% stake as
license operator, while RWE Dea and Tullow Oil PLC (TLW.LN) will each
hold a 30% stake.
-The licence is located in the Guyana-Suriname Basin, 80
kilometers off the northeastern coast of South America and covers an
area of 6,525 square kilometers.
-RWE Dea is already present in the region with licensing rights in the neighbouring state of Suriname.