Exploration & Production
- Wintershall strengthens portfolio and becomes one of the leading producers in Norway
- Intensification of cooperation with Gazprom in upstream activities in Russia and the North Sea
- Successful exploration activities
Europe: The Mittelplate oil field in the North Sea tidal flats is the cornerstone of our oil production in Germany. We and our partner, RWE-DEA, each own a 50% stake in this field, the largest known oil deposit in the country. We are currently testing our biopolymer, Schizophyllan, in a pilot project to increase recovery rates from the Bockstedt oil field.
Wintershall Noordzee B.V. is one of the largest producers of natural gas in the southern North Sea, producing 1.2 billion cubic meters annually. The K18-Golf field in the Dutch North Sea began production in February 2012.
Activities in Norway and the United Kingdom play an increasingly significant role in our portfolio. In addition to the swap of assets, the cooperation with the Norwegian company Statoil, agreed upon in October 2012, provides for joint research on increased recovery from crude oil reservoirs as well as on unconventional hydrocarbon reservoirs. With the acquisition of shares in the producing fields Brage, Gjøa and Vega, planned for the middle of 2013, Wintershall will increase its daily production in Norway from around 3,000 barrels of oil equivalent (BOE) to just under 40,000 BOE. In return, Statoil will receive a cash consideration in addition to a share in the Edvard Grieg development project.
We further strengthened our resource base through successful exploration: According to initial estimates, we were able to confirm hydrocarbons in amounts ranging from 60 million to 160 million BOE with the Skarfjell wildcat well in the northeastern section of the North Sea.
Russia: The Yuzhno Russkoye natural gas field in Western Siberia has been operating at plateau production since 2009. We participate with a 35% interest in the economic rewards of this field. Wintershall holds a stake of 50% in the development of Block IA of the Achimov formation in the Urengoy field. Within the scope of the full field development, the first production wells started up here in November 2012.
In 2012, we agreed on the joint development of two additional blocks in the Achimov deposits together with Gazprom. We will receive 25% plus one share in Blocks IV and V, with the possibility to increase our shareholding in the future. Production is expected to start in 2016.
North Africa / Middle East: In Libya, we operate eight oil fields in the onshore concessions 96 and 97. After resuming crude oil production in October 2011, we were able to raise production in 2012 significantly faster than expected. We achieved an average daily production rate of more than 80,000 BOE. Furthermore, we have a stake in the Al Jurf field off the coast of Libya.
In June 2012, we signed an agreement in Abu Dhabi with ADNOC and the Austrian oil and gas company OMV on the appraisal of the Shuweihat sour gas and condensate field.
South America: We hold shares in a total of 15 onshore and offshore fields in Argentina. In the Neuquén Basin, we continued our technology projects to explore the potential for shale gas and oil in the Aguada Pichana, Bandurria and San Roque blocks. The Argentinian government issued a decree toward the further regulation of the energy sector, which will negatively affect our activities, as well. We hold shares in three exploration blocks in Chile.