Wintershall DEA to make first farm out in Brazil

Oct 03, 2019

Wintershall DEA will make its first partial farm out in Brazil. The German oil company will sell stakes in the four deepwater blocks that operate in the Ceara and Potiguar basins – CE-M-601, POT-M-857, POT-M-863 and POT-T-865 -, said the director of Business and Government Affairs of the company in Brazil, Júlio Moreira.

The blocks were acquired in the 15th round of the ANP, in 2018, when the company made its debut in Brazil. The German oil company holds a 100% stake in the assets. The expectation is to start the drilling campaign in the areas between 2022 and 2023. At the moment, the team is working on the interpretation of the data already collected.

Its local portfolio includes participation in three other exploration areas: two in the Campos Basin (CM-821 and CM-823), in partnership with Repsol (operator) and Chevron, and one in Santos (SM-764), operated by Chevron, in partnership with Repsol. The participation in each block is 20%.

Europe’s leading independent company, the Wintershall DEA group currently operates in 13 countries, focusing on Russia, the Middle East and West Africa. Since 2018, Latin America has gained relevance within the portfolio of the oil company, which has been operating in Argentina for 40 years.

Wintershall DEA is one of 14 entries in the Transfer of Rights Surplus auction scheduled for November 6. In Mexico, it recently acquired the Sierra Oil & Gas oil company, which ensured local onshore production and an important shallow water discovery.

With Basf (70%) and the Letter One Group as shareholders, the oil company will close 2019 with a total production of 630,000 boe / d, most of which will be gas. The group has a strong presence in the midstream, with pipelines in Germany and other countries in Europe.

Source: Brasil Energia Magazine

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