21 June 2012
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Wintershall and OMV sign upstream agreement
with the Abu Dhabi National Oil Company
Wintershall as operator will appraise the sour gas and condensate field in Shuwaihat with equal partner OMV
Shuwaihat would be an important development of a gas and condensate field in the Western region of Abu Dhabi
Middle East region is gaining an increasingly important role for Wintershall’s growth
Kassel/Abu Dhabi. The Abu Dhabi National Oil Company (ADNOC), Wintershall and OMV today signed a Technical Evaluation Agreement to appraise the sour gas and condensate field in Shuwaihat, located some 25 km to the West of Ruwais in the Western Region of Abu Dhabi. Wintershall as operator will conduct the appraisal phase with OMV as an equal partner by drilling up to three appraisal wells and acquiring 3D-seismic over the field. In case of a successful appraisal campaign, ADNOC will participate in the development and production phase of the Shuwaihat field.
Rainer Seele, Chairman of the Board of Executive Directors of Wintershall, said: “This upstream joint venture is an important step on the path towards long-term cooperation in the energy sector between Germany and the Emirate of Abu Dhabi. The Middle East region is gaining an increasingly important role in our diversified portfolio in sustaining our successful growth trajectory.” “Wintershall’s success is based on combining modern exploration techniques and innovative production methods for enhanced recovery from complex reservoirs. We want to use this experience to further develop technically challenging deposits in the region,” Martin Bachmann, Member of the Board of Executive Directors of Wintershall and responsible for Exploration and Production, added.
To optimize the appraisal and a future development of the Shuwaihat sour gas and condensate field, Wintershall and OMV will employ advanced technologies of the highest standards. Both companies have a proven track record in Germany and Austria of more than forty years of safe development and production of sour gas (H2S and CO2) and oil fields. A successful appraisal campaign will result in Shuwaihat being an important development of a gas and condensate field in the Western region of Abu Dhabi, contributing to cover the increasing hydrocarbon demand of the UAE and the country’s long-term export capability.
In 2010 the wholly-owned BASF subsidiary Wintershall has opened an office in Abu Dhabi - the very first one of a German E+P company in the Emirate. Wintershall’s involvement in the United Arab Emirates already stretches back over several decades with activities in Dubai, Ras Al Khaima and Sharjah. Now Wintershall wants to get more actively involved in long-term upstream projects in the Gulf Region.
Wintershall Holding GmbH, based in Kassel, Germany, is a wholly-owned subsidiary of BASF SE. The company has been active in the exploration and production of crude oil and natural gas for over 80 years. Wintershall focuses on selected core regions, where the company has built up a high level of regional and technological expertise. These are Europe, North Africa, South America, as well as Russia and the Caspian Sea region. In addition, these operations are complemented by the company’s growing exploration activities in the Arabian Gulf. Today, the company employs more than 2,000 staff worldwide from 40 nations and is now Germany’s largest crude oil and natural gas producer. With the transport and trading subsidiaries it operates together with Russia’s Gazprom, such as WINGAS, the BASF subsidiary is also an important natural gas supplier on the German and European market.
Wintershall. Shaping the future.
With Group sales of EUR 34.05 bn and a workforce of 29,800 employees in 2011, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV had proven oil and gas reserves of approximately 1.13 bn boe as of year-end 2011 and a production of around 288,000 boe/d in 2011. In Refining and Marketing, OMV has an annual refining capacity of 22.3 mn t and as of the end of 2011 approximately 4,500 filling stations in 13 countries including Turkey. In Gas and Power, OMV sold approximately 24 bcm of gas in 2011. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 101 bcm in 2011. With a trading volume of around 40 bcm in 2011, OMV’s gas trading platform, the Central European Gas Hub, is amongst the most important hubs in Continental Europe. OMV further strengthened its position through the ownership of a 97% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.
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Wintershall Holding GmbH
Press and Public Relations
P.O. Box 10 40 20
34112 Kassel, Germany