Despite the Oil Crisis, Wintershall Continues Preparing to Drill Its First Well in Brazil

German Oil Company Wintershall Prepares to Drill Its First Well in Brazil

Wintershall, a German oil company, is preparing to drill its first well in Brazil. Currently, its team is working from home due to the coronavirus. Despite the crisis, the company’s CEO Mauro Mehren stated during a teleconference with analysts last Wednesday (18) that they are maintaining preparation.

Check Out More News:

• Petrobras Postpones the Submission of Gaspetro Proposal to April 30
• FPSO BW Pioneer Contract Renewed to Continue Operations for MP GOM (Murphy and Petrobras)
• More Job Openings This 19th! Mining Company Vale Seeks Technicians and Engineers

Mauro said that “Our activities are not yet focused on drilling itself, but rather on preparing the first well. These operations are being monitored by teams working from home due to the coronavirus.”

The executive did not specify where the company’s first well will be drilled, but it is expected to occur in block POT-M-857, which is undergoing licensing with IBAMA.

The German company has reduced its projected investments for this year, following the strategy of other oil companies. The planned capex for 2020 is between €1.2 billion and €1.5 billion, with €150 million to €250 million expected to be allocated to exploration, representing reductions of 20% and 56%, respectively, compared to the estimated values before the crisis.

With the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, two companies formed a gas and oil company in Europe: Wintershall Dea. The company, with German roots and headquarters in Kassel and Hamburg, explores and produces gas and oil in 13 countries around the world. With operations in Europe, Russia, Latin America, and the MENA region (Middle East and North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transportation, also engages in midstream activities.