Qatar PR Network, Online Press Release from qatar and Doha city
 
Oil & Gas(Energy and Industry)
Filter PR by
  
Wintershall ceases activities in Qatar

Economic development of the ‘Al Radeef’ gas discovery not feasible under local conditions

Doha / Kassel, May 20, 2015: Wintershall is ceasing its activities in Qatar and is returning Block 4 North near the North Field off the Qatari coast on 25 May 2015. Wintershall’s office in Doha will be closed. In 2013, Wintershall made the “Al Radeef” gas discovery off the cost of Qatar. 

“During the development planning, it was always clear to us and our partners that an economic development of the discovery, including the processing of the gas, would only be possible if we have access to local infrastructure. This access was not granted. That is why we have decided to take this step”, explains Wintershall Board Member Martin Bachmann, who is responsible for exploration and production in Europe and the Middle East.  

Further activities in the Middle East region are not affected by the withdrawal from Qatar. The current focus of Wintershall is on the United Arab Emirates. “We are also closely following the developments in other countries in the region”, explains Bachmann. “The challenges in the region are increasing with local energy consumption growing rapidly. In order to maintain production in the long term, fields must be exploited more efficiently and technically more complex fields need to be developed.” 

Wintershall has considerable experience in deploying ‘Enhanced Oil Recovery’ (EOR) technology, which is used to increase the yield from complex reservoirs, especially in mature fields in Germany and Europe. “In combination with modern exploration techniques, it is precisely this experience that we want to increasingly utilise in the Middle East region.”

Wintershall Holding GmbH, based in Kassel, Germany, is a wholly owned subsidiary of BASF in Ludwigshafen. The company has been active in the extraction of natural resources for 120 years, and 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, Russia, North Africa, South America, and increasingly the Middle East region. The company wants to expand its business further with exploration and production, selected partnerships, innovation and technological competence. The company employs more than 2,400 staff worldwide from 40 nations and is now Germany’s largest crude oil and natural gas producer. 

Posted by : Qatar and Doha City PR Network Editorial Team
Viewed 17885 times
PR Category : Energy and Industry
Posted on : Wednesday, May 20, 2015  6:16:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of QatarPRNetwork.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
AIGNER FIRENZE: The Renaissance Collection [61832-Views]
Bottega Veneta Introduces L'absolu [51976-Views]
D1 Milano Launches Exlcusive Limited Edition Collection –The Khaleeji [49491-Views]
Michael Kors Dials Up the Glamour for Holiday 2018 [45641-Views]
Help Your Skin Survive This Halloween [44239-Views]
Twelve Holiday Gifts for the Beauty-Obsessed Woman [35588-Views]
Climax Mascara Never Fake It [33866-Views]
Discover the Secret to Younger-looking, Radiant Skin [32862-Views]
Brow Contour Pro 4-in-1 defining & highlighting brow pencil [32468-Views]
Halloween “Catwoman” mask using BROW products [32251-Views]
The World of Aigner Wunderkammer [30660-Views]
Purely Pandora Classics With a Twist [20918-Views]
The FW18 Trend Report From Weill Paris [20775-Views]
Tryano Launches Elemis [17946-Views]
Michael Kors to Introduce a Special-edition Whitney Handbag for the Middle East [12320-Views]
Chloé Eyewear's Feminine Appeal Seen Through the Lens of the New “Rosie” Style [11812-Views]
Dyson Reveals the Future of Clean Homes. [11751-Views]
Welcome to the new Space Age [10172-Views]
How To Ensure Your Child's Safety Online [6863-Views]
Souq.com's Biggest Ever White Friday Sale [6699-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories