Segment profile

BASF’s oil and gas activities are bundled in the Wintershall Group. Wintershall and its subsidiaries operate in the business sectors Exploration & Production and Natural Gas Trading.

Strategy

  • Oil and gas activities bundled into Wintershall Group
  • Pursuit of our growth strategy through exploration, acquisitions, strategic partnerships and technological expertise
  • Important contribution to securing Europe’s natural gas supply

In the future, crude oil and natural gas will continue to contribute significantly toward covering the sharply rising energy demand of a growing world population. That is why we invest in the exploration and production of oil and gas, primarily in our core regions Europe, Russia, North Africa and South America. We also aim to establish the Middle East as another of our core regions.

Our growth strategy is based on innovative technologies and selected collaborations. With the acquisition of assets from Statoil in July 2013, we achieved a significant milestone in the cooperation established in 2012. As a result of the transaction, our daily oil and gas production in Norway rose from around 3,000 barrels of oil equivalent (BOE) to just under 40,000 BOE. We also took over operatorship of the Brage oilfield.

We made progress in our collaboration with ADNOC, the national oil company of Abu Dhabi, on the Shuweihat gas project in 2013. This project is an important step for us toward establishing a greater presence in the Middle East.

As part of an asset swap with our longtime partner Gazprom, we will acquire 25% plus one share in two additional blocks of the Achimov Formation in the Urengoy Field in Western Siberia in 2014. In return, Gazprom will receive Wintershall’s share of the gas trading and storage business – which was previously jointly operated – as well as a share of 50% in Wintershall Noordzee B.V. The transaction will take place with retroactive financial effect as of April 1, 2013.

The importation of natural gas through pipelines will continue to be of great significance to Europe’s supply security in the future. For this reason, in addition to developing and producing gas in and around Europe, we also help create the necessary transport infrastructure. For example, we will participate in the construction of the South Stream Offshore Pipeline through the South Stream Transport B.V.

Handling hydrocarbons in a responsible manner demands special measures for the protection of people and the environment. We carefully assess the potential effects of every project before we begin. Together with experts, contractors and relevant stakeholders, we develop methods and implement measures to be able to use resources even more efficiently and minimize the impact on the environment. In doing so, we act in accordance with international agreements, local legislation and our own, self-imposed high standards. Information relevant to the principles of the Global Compact

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Capital expenditures

Location

Project

Total capacity*

Completion

*

Plateau production

**

BOE = barrel oil equivalent

***

Year of startup

Argentina

Development of Vega-Pleyade field

25 million BOE**

2016***

Germany

Construction of NEL onshore pipeline link to Nord Stream pipeline

20 billion m3

2012***/2013

North Sea, Norway

Development of Knarr field

20 million BOE**

2014***

 

Development of Maria field

13 million BOE**

2018***

 

Development of Edvard Grieg (Luno) field

35 million BOE**

2015***/2017

Siberia, Russia

Achimgaz, development of Achimov horizon in Urengoy gas and condensate field

70 million BOE**

2008***/2018