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Oil & Gas

Wintershall Dea wins two offshore blocks in Brazil’s 16th bidding round

Wintershall Dea Brazil
Posted: October 13, 2019 at 1:41 pm   /   by   /   comments (0)
  • Wintershall Dea was awarded offshore blocks S-M-766 and C-M-845 in Santos and Campos basins.
  • The company is further strengthening its exploration portfolio in Brazil.

In Brazil’s 16th Bidding Round for oil and gas exploration blocks, Wintershall Dea was awarded two offshore blocks in the Santos and Campos basins with its partners Chevron and Repsol.

Hugo Dijkgraaf, Member of the Management Board of Wintershall Dea and responsible for Exploration comments: “We are very pleased with the awards in this competitive bid round. Brazil is one of the world’s most promising oil and gas regions. The blocks we won are an excellent fit to our plans in Brazil. The country is an important pillar in our global growth strategy.”

Wintershall Dea will hold an interest of 20% in the blocks S-M-766 and C-M-845, alongside its partners Repsol and Chevron (operator). The blocks contain pre-salt targets. A work program will include 3D seismic acquisition and prospect maturation.

Valerie Bosse, Managing Director of Wintershall Dea in Brazil says: “The blocks are located in the immediate vicinity of three licenses, where we already have exploration activities. They are a strong complement to our exploration portfolio, giving us further access to a maturing and emerging basin. We now look forward to start the exploration work together with our partners.”

The blocks are located 150 kilometers south-east of the pre-salt discovery Libra, in a new emerging area. They are adjacent to the exploration blocks S-M-764, C-M-821 and C-M-823 where Wintershall Dea, Chevron and Repsol are already partners.

Currently, Wintershall Dea holds participation interest in nine exploration licenses offshore Brazil, of which four as operator.

In the 16th Bidding Round, thirty-six blocks were offered in the sedimentary basins of Pernambuco-Paraíba, Jacuípe, Camamu-Almada, Campos and Santos, with an area of 29,300 square kilometers.

About Wintershall Dea

With the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, two successful companies with a long tradition have formed Europe’s leading independent natural gas and oil company: Wintershall Dea. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.

Wintershall Dea stands for more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company employs around 4,000 people worldwide from over 60 nations. The company plans to increase its average daily production from around 590,000 barrels of oil equivalent to a range of 750,000 to 800,000 barrels in the period between 2021 and 2023. In the medium term, an initial public offering of Wintershall Dea is envisaged.

(Wintershall Dea Press Release)

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