Heidelberg, March 11, 2016. Rhein Petroleum GmbH announced today having started extended production test operations at its 100% owned Schwarzbach 1 light oil discovery site near the town of Riedstadt in the Upper Rhine Valley. Production is processed on site through Tulip Oil’s proprietary MPFO facilities and trucked to the nearby Karlsruhe refinery (MIRO). Permanent production operations are envisaged to commence in 2017 without interruption.
This marks the relaunch of oil production in this region of the Upper Rhine Valley, where production from the nearby Stockstadt oil field which at one stage produced as much as 1,500 bpd of oil and ceased production in 1994. The Upper Rhine Graben is a proven hydrocarbon province with significant remaining potential which has been long overlooked. Rhein Petroleum is looking at further oil developments in its license portfolio in the states of Hessen, Baden Württemberg and Bavaria.
Michael Suana, CEO of Rhein Petroleum GmbH, said at the inaugural press conference with local authorities on sit “Further to our ongoing test production operations from two oil discoveries in Bavaria, Schwarzbach adds significant potential and value to Rhein Petroleum’s portfolio. We are looking forward to further successful drilling this year and permanent production operations as of next year”
Rhein Petroleum GmbH is a Heidelberg based German company focused on upstream oil and gas in Southern Germany. Its shareholders are Tulip Oil Holding (90%), The Hague, Netherlands and Deutsche Rohstoff AG (10%), Heidelberg, Germany.
Press contact for Rhein Petroleum is:
Tel.: +49 7221 398 66-11