Wintershall Dea

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Wintershall Dea
TypeGerman limited liability company (GmbH)
IndustryGas and oil (exploration and production)
Predecessors
Founded1894 (Wintershall), 1899 (DEA, as Deutsche Tiefbohr-Actiengesellschaft, DTA)
FoundersCarl Julius Winter, Heinrich Grimberg (Wintershall), Rudolf Nöllenburg (first Managing Director of DTA)
HeadquartersKassel and Hamburg,
Germany
Areas served
Northern Europe, Russia, Latin America, Middle East and North Africa
Key people
Mario Mehren (CEO)
Hugo Dijkgraaf (CTO)
Paul Smith (CFO)
Thilo Wieland (Region Russia, Latin America and Transportation and Interim Responsible MENA)
Production output
  • Natural gas: 445.000 BOE
  • Crude oil: 172.000 BOE (excluding Libya onshore due to the change to EPSA contracts)
Revenue€5.9 billion[1] (2019)
€2.8 billion (2019)
Number of employees
2,847[2] (2019)
Websitewintershalldea.com

Wintershall Dea GmbH is a German gas and oil producer. The joint venture was created in May 2019 by the merger between Wintershall Holding GmbH and DEA Deutsche Erdoel AG. BASF SE has a 67% stake in it, with the other 33% being held by LetterOne, whose main ultimate owner is the Russian business magnate Mikhail Fridman. It is planning listing on the Frankfurt Stock Exchange.[3]

History[]

Main articles: Wintershall and DEA AG

Wintershall was founded in 1894 and DEA was founded five years later as Deutsche Tiefbohr-Actiengesellschaft.[4][5] The two companies began to work together more intensively since the 1950s.[6] In 1952, Wintershall and DEA acquired the majority in Deutsche Gasolin AG[7] which later merged with its sister company Aral AG in connection with the construction of the Emsland oil refinery.[8] Another consequence of their collaboration was the joint establishment of Germany's only offshore drilling platform Mittelplate in the Wadden Sea, which began production in 1987.[9]

Wintershall Dea was created on 1 May 2019 through the merger of Wintershall and DEA Deutsche Erdoel AG. On 27 September 2018, the binding contract between the respective parent companies, BASF and LetterOne, on the merger of DEA and Wintershall was announced.[10]

In August 2020, Wintershall Dea signed a cooperation memorandum with Sonatrach of Algeria.[11][12]

Operations[]

Wintershall Dea operates in the field of gas and oil exploration and production in a total of 13 countries in Europe, Latin America, the Middle East, North Africa and Russia. The company has its headquarters in Kassel and Hamburg and employs around 2,800 people worldwide. Its Chief Executive Officer is Mario Mehren.[2] According to Wintershall DEA’s pro forma figures, revenues and other income amounted to ���5.9 billion in 2019.[1]

Wintershall Dea owns 40% of the Bergknapp prospect. It is also the operator of the prospect.[13]

Wintershall Dea is one of the financers of the Nord Stream 2 pipeline.[14]

Bibliography[]

  • Rainer Karlsch, Raymond G. Stokes: Faktor Öl. Die Mineralölwirtschaft in Deutschland 1859-1974. (“The Factor Oil: The Mineral Oil industry in Germany from 1859 to 1974 (German Only)) C. H. Beck, Munich 2003, ISBN 978-3-406-50276-7

References[]

  1. ^ a b Wadewitz, Sabine (2020-03-19). "Wintershall Dea kürzt Investitionen" [Wintershall Dea cuts investments]. Börsen-Zeitung (in German). Retrieved 2020-06-05.
  2. ^ a b "Annual Report 2019" (PDF). Wintershall DEA. Retrieved 2020-05-31.
  3. ^ Denina, Clara (2020-03-09). "Wintershall to delay Frankfurt IPO on coronavirus, price war - sources". Reuters. Retrieved 2020-08-29.
  4. ^ Will, Barbara (2019-02-20). "125 Jahre Wintershall: Die Konzerngeschichte begann mit Salz" [125 years of Wintershall: The company's history began with salt]. HNA (in German). Retrieved 2020-06-09.
  5. ^ "DEA Deutsche Erdoel AG ist 120 Jahre alt - Fusion in Planung" [DEA Deutsche Erdoel AG is 120 years old - merger in planning] (Press release) (in German). DEA Deutsche Erdoel AG. 2019-01-10. Retrieved 2020-06-09.
  6. ^ "125 years of Wintershall: Anniversary year and start of a new chapter in the company's history". World Oil. 2019-02-13. Retrieved 2020-06-09.
  7. ^ "Wintershall Dea". Fact Harbor. Retrieved 2020-06-09.
  8. ^ Schaeffer, Erhard (2015-02-19). "Erinnerungen im Netz: NITAG ein deutsches Mineralölunternehmen der Wintershall mit eigener Tankstellenkette auch in Kassel" [NITAG, a German oil company owned by Wintershall with its own chain of petrol stations also in Kassel]. Memories on the Net. Retrieved 2020-06-09.
  9. ^ "Digital twin extending life of North Sea Mittelplate platform". Offshore Magazine. 2019-11-26. Retrieved 2020-06-09.
  10. ^ "Wintershall, DEA reach agreement on German oil & gas merger". Xinhua. 2018-09-28. Retrieved 2020-06-09.
  11. ^ "Algeria's Sonatrach signs upstream MOU with Germany's Wintershall Dea". S&P Global Platts. 2020-08-17. Retrieved 2020-08-29.
  12. ^ Hamid Ould Ahmed (2020-08-17). "Algeria's Sonatrach, Wintershall Dea sign MoU to boost partnership". Reuters. Retrieved 2020-08-29.
  13. ^ "Wintershall Dea discovers oil near Maria field offshore Norway". Offshore Technology. 2020-04-08. Retrieved 2020-08-29.
  14. ^ Elliott, Stuart (2020-08-19). "Wintershall Dea 'confident' Nord Stream 2 to be commissioned in near future: CEO". S&P Global Platts. Retrieved 2020-08-29.

External links[]

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