Wintershall and GDF SUEZ are extending their collaboration by signing an agreement on the exchange of interests in drilling fields in the German North Sea. GDF SUEZ E&P Deutschland GmbH will receive 40% of the H&L sections. These lie 80 km offshore, northwest of the East Friesian island of Borkum. The 100% owned subsidiary of BASF will in exchange receive 25% of the Cuxhaven concession which directly adjoins the Schleswig-Holstein Mittelplate oil field.

“The exchange of interests heralds an intensification of the many years of close collaboration between our companies, which has extended to numerous projects in northern Germany,” says Dr Ties Tiessen, Director of Wintershall Holding AG. “We are very pleased that our joint participation can now extend to the area of offshore exploration. We are certain that these projects are the ideal step forward.”

Didier Holleaux, Senior Vice President Exploration & Production of GDF SUEZ, sees the collaboration as “a major step for GDF SUEZ in developing additional hydrocarbon potentials in the German North Sea, which we look forward to taking with Wintershall. Here we have cooperation between two partners with enormous experience and state-of-the-art know-how – so I am very confident that the projects in the H&L sections and the Cuxhaven concession will be a mutual success.”

The Cuxhaven concession borders the Mittelplate field, the largest German oil reserves. Further reserves are anticipated in the Cuxhaven concession, just as in the Mittelplate field. The partners will be able to expand and reinterpret current seismic explorations. With a 50% share, the site manager RWE Dea is also a participant in the Cuxhaven concession, in addition to Wintershall and GDF SUEZ (25% share each).

Wintershall will remain the operator at the H&L sections. Until now, the company has only operated the natural gas sections. Exploratory drilling project L-12 is planned by the end of 2009 in the area of some 1,500 square kilometres. Further work will depend on the results of this exploration. Wintershall and GDF SUEZ both have 40% participation in the consortium, with the British company Hansa Hydrocarbons Ltd holding the remaining 20%.

Tags: GDF SUEZ Energy International, Wintershall