DEA appoints Maria Moraeus Hanssen as CEO

Hamburg, 4 September 2017

DEA Deutsche Erdoel AG, the international oil and gas company wholly owned by LetterOne, today announces the appointment of Maria Moraeus Hanssen as its new CEO and Chairman of the Management Board. The appointment is expected to take effect in January 2018, when Maria Moraeus Hanssen succeed Thomas Rappuhn, who is handing over after 30 years at the company, including 12 years on the Executive Board and 8 years as CEO.

Maria Moraeus Hanssen is currently Chief Executive Officer of the French utility group ENGIE's exploration and production business, managing production of more than 160,000 barrels of oil equivalent per day, across 12 countries with 1,700 employees.

Over the past two years, Maria Moraeus Hanssen has led a strategic transformation at Engie's E&P business, restructuring the portfolio and improving returns and profitability through the pursuit of cultural change, application of new technology, cost reductions and M&A activity. Maria Moraeus Hanssen, a Norwegian citizen, has extensive oil and gas industry experience having worked for Hydro ASA, Statoil ASA and Aker ASA. She trained as a reservoir engineer and petroleum economist, and spent the first fifteen years of her career with Hydro ASA across a broad range of roles including reservoir engineering, exploration management, field development, offshore operations and business development. Shortly after Statoil bought Hydro's oil and gas activity, Maria Moraeus Hanssen left to join Kjell Inge Røkke's Aker Group. After successfully building significant elements of what later became Aker BP ASA, Maria Moraeus Hanssen returned to a more operational role in 2014, heading up GDF SUEZ's Norwegian business. In 2015, she was promoted to run GDF SUEZ's entire international E&P business. GDF SUEZ changed its name to ENGIE in the same year.

Commenting on Maria Moraeus Hanssen's appointment, Lord Browne, Chairman of DEA's Supervisory Board and Executive Chairman of L1 Energy said: "We are delighted that Maria has chosen to join DEA. She is ideally suited to lead DEA in the next phase of its development and growth. Our ambition is to build a safe, sustainably growing energy company, which is recognised as a partner of choice. Maria brings a commercial mind-set, financial and strategic insight along with an impressive technical background. She has a proven track record of leading and transforming organisations.

I would like to thank Thomas Rappuhn for his many years of service at DEA. He has successfully managed the company's transition to becoming an E&P company under new ownership, and has laid solid foundations for the future. On behalf of DEA and L1 Energy, I wish him all good fortune and success in his future pursuits."

Thomas Rappuhn said: "I am very thankful for the good times and the support I always received from all colleagues at DEA. DEA has developed a very solid portfolio, professional skills and a corporate culture with associated values, which represent a good foundation for a bright future. I wish DEA and its great people all the best!"

Maria Moraeus Hanssen commenting on her appointment as Chief Executive said: "I am very proud to take over from Thomas Rappuhn, who leaves a tremendous legacy, and look forward to working with my new colleagues in DEA to develop the company to its full potential. DEA is well positioned for both organic and inorganic growth, and to benefit from the change we see happening in the E&P sector. I look forward to expanding DEA's successful business in a sustainable manner, while maintaining today's HSE standards."

DEA Deutsche Erdoel AG is an international operator in the field of exploration and production of crude oil and natural gas based in Hamburg. Its focus is on safe, sustainable and environmental conscious exploitation of oil and gas. DEA has 118 years of experience working along the whole upstream value-chain as operator or project partner. With a workforce of 1,150 employees DEA has shares in production facilities and concessions in, among others, Germany, Norway, Denmark, Egypt, Algeria and Mexico.

Maria Moraeus Hanssen - Biography

DEA Deutsche Erdoel AG

2018 -



2015 - 2017

Head of E&P Business International SA and CEO of ENGIE E&P International SA

2014 - 2015

CEO/Managing Director GDF SUEZ E&P Norge AS (ENGIE E&P Norge AS), Stavanger

Aker ASA

2008 - 2013

Investment Director

Statoil ASA

2007 - 2008

Senior Vice President Gas Supply and Infrastructure

Hydro ASA

2006 - 2007 Vice President / Offshore Installation Manager

2004 - 2006 Vice President, Field Development NCS

2003 - 2004 Project Manager, Vilje Field Development

2002 - 2003 Exploration Manager, North Sea

2001 - 2002 Project Manager, Fram - Gjøa Field Development

1998 - 2001 Head of various business development units on NCS

1996 - 1998 License administration and business development

1992 - 1996 Reservoir Engineering

1990 - 1991 Graduated from IFP School - Ecole Nationale Supérieure du Pétrole et des Moteurs, Paris, in "Petroleum Economics and Management"

1984 - 1989 Graduated from the Norwegian University of Science and Technology (NTNU), Trondheim, in "Petroleum Engineering"

Born in 1965

Further information

Uwe Stephan Lagies

Head of Corporate Communications

T +49 40 6375 2511

M +49 162 273 2511

Dr Olaf Mager

Head of External Communications

T +49 40 6375 2877

M +49 162 273 2877