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Wintershall Will Sell Part of Its Blocks in Ceará and Rio Grande do Norte, Which Were Acquired in the 15th Round of ANP in 2018
For the first time, the German oil company Wintershall will sell participation in Brazil. The Ceará and Potiguar basins were chosen by the company to sell part of its operations. Wintershall is among the 14 oil companies registered for the onerous assignment auction.
The blocks are the four in deep waters that the oil company operates in the Ceará and Potiguar basins, named CE-M-601, POT-M-857, POT-M-863, and POT-T-865.
The information was given last Wednesday (10/02) by the Director of New Business and Government Affairs of the company in Brazil, Júlio Moreira, during an event at the Brazil-Germany Chamber of Commerce and Industry.
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Currently, Wintershall holds 100% participation in the assets of the Ceará and Potiguar basin, acquired during its debut in Brazil. Drilling in the areas is expected to start in 2022 and 2023, and at the moment the company is analyzing the seismic studies of the region.
About the Company
Regarding its portfolio in Brazil, in addition to the recent acquisitions in the Ceará and Potiguar basin, Wintershall also holds a 20% stake in blocks in the Campos Basin (C-M-821 and C-M-823) in partnership with Repsol (operator) and Chevron, as well as the same percentage in Santos (S-M-764), operated by Chevron in partnership with Repsol.
Worldwide, the Wintershall group currently operates in 13 countries and is the leading independent company in Europe, expanding its operations in Latin America, despite already operating for 40 years in Argentina.
In Mexico, the German oil company acquired Sierra Oil & Gas, which secured local onshore production and a significant discovery in shallow waters.
The company’s shareholder composition involves Basf (70%) and the Letter One group, and the company’s forecast is to close 2019 with a production of 630,000 boe/d, with most being gas.
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