Wintershall Pulls Out of Qatar Gas Activities

Reuters

FRANKFURT, May 20 (Reuters) – BASF subsidiary Wintershall on Wednesday said it would give up its gas exploration activities in Qatar and close its Doha office two years after making a promising find.

The oil and gas unit of Germany's chemicals group said that as of May 25, it would return its licence to explore Block 4 North near the North Field off the Qatari coast, citing lacking access to local infrastructure.

"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," said board member Martin Bachmann. "This access was not granted."

Wintershall had made the relevant offshore gas discovery called Al Radeef offshore gas discovery in 2013.

Other Middle Eastern activities would not be affected by the move, Wintershall said. 

(Reporting by Vera Eckert, editing by Kirsti Knolle)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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