Wintershall Acquires Additional North Sea Licenses

Wintershall is further stepping up its crude oil and natural gas exploration activities in Norway. The former Norwegian oil and gas company Revus Energy ASA, recently acquired by Wintershall, and the subsidiary responsible for the Norwegian operations, Wintershall Norge AS, each received three additional licenses for exploration areas in the Norwegian North Sea in the latest 2008 licensing round of the Norwegian Ministry of Petroleum and Energy.

Wintershall will be the operator in five of the six licenses. The company is now one of the largest license holders on the Norwegian continental shelf and operates a total of 21 licenses. Harald Vabo, former CEO of Revus Energy ASA and now General Manager of the new company Wintershall Norge ASA, announced that they would start work on the six new areas quickly. "We already plan to start with seismic activities on the new acreage in the next few months."

The Norwegian Ministry of Petroleum and Energy issued 34 production licenses to 40 companies as part of the 2008 licensing round. A large proportion of the licenses granted apply to the Norwegian section of the North Sea (21). Another eleven licenses were issued for the Norwegian Sea and two for the Barents Sea off the coast of Northern Norway. Overall 47 companies took part in the bidding process, which is now complete.