Wintershall, GDF SUEZ exchange German North Sea interests
May 12, 2009
Wintershall and GDF SUEZ have signed an agreement to exchange company interests in the German North Sea.
Offshore staff
KASSEL, Germany -- Wintershall and GDF SUEZ have signed an agreement to exchange company interests in the German North Sea. GDF SUEZ E&P Deutschland GmbH will receive 40% of the H&L sections, which lie northwest of the East Friesian island of Borkum. In exchange Wintershall will receive 25% of the Cuxhaven concession, which directly adjoins the Schleswig-Holstein Mittelplate oilfield.
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.
