Wintershall Steps up Activities in the Arabian Gulf

Wintershall is stepping up its activities in the Arabian Gulf Region as its wholly owned BASF subsidiary has been awarded another exploration license in Qatar’s territorial waters. On October 24, 2007, an agreement was signed for Block 3 with the state oil company Qatar Petroleum.

With a 40% share, the largest German-based oil and gas producer will be the operating company for the exploration activities off the coast of Qatar Arabian Peninsula. The other partners are the Japanese company Cosmo Oil (35%) and Indonesia’s Pertamina (25%).

Offshore Block 3 covers an area of about 1,700 square kilometers. 3D seismic surveys as well as exploration and appraisal wells are planned for the area over the next few years with drilling expected to commence in 2009.

Wintershall already took over as operating company of Offshore Block 11 in Qatar in the year 2001 with a 51% stake. U.S. company Anadarko Resources Corporation holds the remaining 49 percent. Offshore Block 11 lies about 50 kilometers northeast of the Qatar coast directly adjacent to Block 3.