Successful commitment in Norway

Wintershall is making good progress on the path to becoming one of the most important operators in Norway: at the German-Norwegian energy conference “Energy Security” in Berlin, Martin Bachmann, Member of the Board of Executive Directors of Wintershall and responsible for Exploration and Production, said he was pleased with the company’s activities in northern Europe. “The expansion of our activities in Norway is making very good progress. Wintershall is involved in six of the twelve largest oil discoveries in Norway over the last five years,” Bachmann said at the start of the conference. Wintershall had set itself the target of producing around 50,000 BOE per day in the northern North Sea by 2015, he added. “The Continental Shelf still has considerable potential. We want to tap into that potential,” the Wintershall Board Member explained. In this year alone, the wholly owned subsidiary of the world’s largest chemicals company, BASF, is spending almost 50 percent of its global exploration budget in Norway. The company plans to invest around eight billion Norwegian kroner in the next five years (around a billion euros). “In our significant investments in Norway we focus on the entire E+P life cycle – from exploration to production. This is certainly not a strategy practiced by all international E+P companies in Norway these days,” Bachmann explained.