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 18968 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
Boss Bottled Oud Aromatic and Saffron: the New Enticing Fragrances [19208-Views]
As if Made from One Piece: GROHE Offers Individual System Solutions for the Entire Work Area Around ... [15859-Views]
Cerruti 1881' [14936-Views]
Police Is the Official Eyewear in the Sony Pictures Film “Men in Blacktm: International” [14703-Views]
Saint Honore [14321-Views]
Chloé Launches The New Cloud-shaped “rosie” Sunglasses [11004-Views]
Max Mara Resort 2020 Collection [10205-Views]
Let Your Style Roar [9815-Views]
Festival of Speed Celebrates Aston Martin's Racing History [8856-Views]
Ralph Lauren Presented with an Honorary UK Knighthood [8085-Views]
Ink Your Lips This Summer With Artist Rouge Ink, Make Up for Ever's New Airlightlip Color [6945-Views]
The Edge Picture Company Transforming Qatar's Film Production Industry [6236-Views]
Siemens to supply power equipment and services for 840 MW power plant in Iraq [4420-Views]
Qatar Post organizes “Iftar of the Fasting” drive for the third consecutive year [3903-Views]
World's Newest Lulu Hypermarket High-End Flagship Concept Makes its Debut at Doha Mall [3751-Views]
Aston Martin Valkyrie Wows Crowds on Public Debut at Silverstone [3649-Views]
Sports Collection - Autumn Winter 2019 [3264-Views]
Terry Senior Appointed as Head of The Hamilton International School [3108-Views]
Critical Strategies for Staying Ahead of Emerging Cyberthreats [2899-Views]
Senior Deputy Group President & CEO of QIC Group inaugurates orphan accommodation for Dreama [2882-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories