Wintershall Dea Announces it Will Leave Brazil

The German oil company Wintershall Dea announced today (17) that it is leaving Brazil. The company, which holds stakes in nine exploratory licenses, said it would close all its operations in the country and close its office in Rio de Janeiro. This decision is the result of a very thorough analysis of the group’s global portfolio and the evaluation of individual projects and how they fit into the long-term strategy.

“We are very grateful for the good relationships we have built over the years with our business partners and the authorities in Brazil and we will work constructively with them to ensure a smooth transition,” commented  Thilo Wieland, – who is responsible for the oil company’s business in Russia, Latin America and Transport.

Currently, Wintershall Dea’s focus is in natural gas, which accounts for around 70% of its portfolio. The company further stated that it will continue to use its long-standing expertise to produce oil in the most efficient and responsible way, focusing on selected regions and projects in line with its climate goals.

The areas where Wintershall Dea has interests are spread across the Potiguar, Ceará, Campos and Santos basins. The assets were acquired in bidding rounds held in 2018 and 2019. The company concluded by saying that it has no minimum work commitments remaining on licenses or other relevant financial obligations.

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